Ethereum Staking Hits Record 32% Amid Exchange Reserve Collapse

Ethereum's staking ratio has reached a record high of 32%, marking the largest share of supply ever locked in validators. This milestone comes as exchange reserves have dropped significantly, with over half of the token's 2021 peak amount now stored outside trading venues.

The proportion of Ethereum supply held on exchanges has declined from above 33 million ETH in 2021 to roughly 14.9 million today. On-chain trackers show a steady increase in staked coins, with more holders moving their tokens into validators and away from exchange balances.

A persistent negative netflow indicates that more Ethereum is leaving exchanges than arriving, further tightening available supply. Analysts argue that this trend builds a genuine supply floor, but warns that a price held up by derivatives leverage rather than spot demand can unwind quickly.