Ethereum Staking Contract Address Surpasses 50% of Total ETH Supply for First Time

On Wednesday, on-chain analytics provider Santiment reported that Ethereum’s proof-of-stake contract address now accounts for just over half of all ETH ever issued, even though only about 37 million ETH, or roughly 30% of the 121.4 million total supply, are currently staked. Santiment likened the address to a one-way vault that accumulates coins over time, while staking demand and validator queues have climbed to record levels as Ether trades near bear market lows around $1,970 to $2,000.