Ethereum smashes $120bn staking record as price seen to hit $40,000
- Nearly 30% of all Ethereum circulating supply is now locked up.
- Bitmine stakes another $600 million and now has $6 billion staked.
- Tom Lee urges shareholders vote for his stock split proposal ahead of big meeting.
Ethereum has reached a new milestone with 30% of circulating tokens staked as analysts expect the second biggest cryptocurrency’s price to surge.
The staked Ether represents a $120 billion bet on the blockchain network, ValidatorQueue data shows.
Bitmine has emerged as a top vote of confidence for the proof-of-stake mechanism by locking up $600 million in Ethereum on Wednesday. The digital asset treasury firm is now staking about $6 billion worth of the crypto, which is close to half of its total $13 billion in total holdings.
The fresh milestone comes as Ethereum’s price rose 8% over the past week, trading at $3,359 at time of reporting. To be sure, it is still down 32% from its all-time high of $4,950 set back in August.
around 25% below their October peak. Meanwhile, other assets like stocks and gold have pushed towards their all-time high in 2026.
But despite Ethereum’s poor price performance relative to other assets, Wall Street is betting big on the blockchain network.
JPMorgan chose it for the first-ever tokenised money market fund, an asset class valued at $9 trillion. Morgan Stanley also filed for an Ethereum exchange-traded fund product earlier this month.
British bank Standard Chartered told investors this month it expects Ethereum to outperform Bitcoin going forward and that the price will hit $40,000 per token by 2030.
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- Nearly 30% of all Ethereum circulating supply is now locked up.
- Bitmine stakes another $600 million and now has $6 billion staked.
- Tom Lee urges shareholders vote for his stock split proposal ahead of big meeting.
Ethereum has reached a new milestone with 30% of circulating tokens staked as analysts expect the second biggest cryptocurrency’s price to surge.
The staked Ether represents a $120 billion bet on the blockchain network, ValidatorQueue data shows.
Bitmine has emerged as a top vote of confidence for the proof-of-stake mechanism by locking up $600 million in Ethereum on Wednesday. The digital asset treasury firm is now staking about $6 billion worth of the crypto, which is close to half of its total $13 billion in total holdings.
The fresh milestone comes as Ethereum’s price rose 8% over the past week, trading at $3,359 at time of reporting. To be sure, it is still down 32% from its all-time high of $4,950 set back in August.
around 25% below their October peak. Meanwhile, other assets like stocks and gold have pushed towards their all-time high in 2026.
But despite Ethereum’s poor price performance relative to other assets, Wall Street is betting big on the blockchain network.
JPMorgan chose it for the first-ever tokenised money market fund, an asset class valued at $9 trillion. Morgan Stanley also filed for an Ethereum exchange-traded fund product earlier this month.
British bank Standard Chartered told investors this month it expects Ethereum to outperform Bitcoin going forward and that the price will hit $40,000 per token by 2030.