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Half of Ethereum’s Supply Locked in Staking for the First Time in History
According to data from Everstake, 50.18% of the entire ETH supply is now locked in staking. This amounts to more than 80.95 million tokens, which are no longer available on exchanges or trader wallets and cannot be dumped into the market due to prevailing bearish conditions.
Per the analysis, this high amount of staked tokens means that the liquid supply is now nonexistent. With fewer coins in circulation, selling pressure has dropped significantly, making the market more sensitive to any surge in demand.
“It shows strong long-term conviction. Instead of trading short-term volatility, users are choosing to secure the network. We do believe that for Ethereum, this is a structural shift. Less available supply + steady or growing demand = stronger price dynamics over time,” the analysis said.
However, it is important to note that the 80.95 million tokens do not represent the active stake. It represents the ETH tokens held in the proof-of-stake (PoS) address. Ethereum has 30.41% of its supply held in active stake.
 
Analyst Eyes Explosive Rally to $18,000
Analyst Gert van Lagen has stated that Ethereum may be headed for a bullish breakout towards $18,000. He based his analysis on an expanding diagonal pattern, stating that ETH has been following it since 2017. This suggests that despite the 36% drop in the last month, Ethereum might recover and potentially break its previous highs.
The analyst further added that, per the Elliot Wave analysis, ETH was in the fifth wave. In this wave, ETH not only set an ATH but also entered a corrective phase to address oversaturation. Now, the price is readying for the next bullish leg that could propel ETH past $9,000 to as high as $18,000.
However, he added that if Ethereum drops below the fourth wave, which lies around $1,000, it may invalidate this bullish thesis. At press time, ETH traded at $1,976, down 2.3% intraday.