Ethereum has achieved a significant milestone with 29.5% of its total supply now staked in the network’s proof-of-stake mechanism. This represents a dramatic surge from less than 5% in early 2021.
Simultaneously, exchange-held Ethereum reserves have plummeted by nearly 50%, declining from over 32 million ETH to under 17 million ETH. This substantial reduction in readily available supply has constrained market liquidity.
The scarcity dynamics have contributed to bullish price action, with Ethereum recently breaking through the $2,600 resistance level. The cryptocurrency currently trades near $2,775.54, reflecting a 4.3% gain over the past 24 hours.
Market analysts attribute Ethereum’s upward momentum to the compounding effects of staking lockups and exchange outflows, creating a structural supply shock. The $2,880–$2,950 range is now viewed as the next critical resistance zone, where a decisive breakout could signal further upside.