Ethereum Staking Hits Record High as Prices Fall

The latest Bitwise Staking Report for Q3 2026 reveals a notable divergence in the crypto market. While prices fell, fundamental metrics such as staking and protocol usage rose to new heights.

In this inaugural report, Bitwise Asset Management highlights that record amounts of Ethereum (ETH) are now being staked, with a staggering 40.2M ETH, representing 33% of the supply, currently locked in staking contracts. This surge is largely driven by institutional investors, who have added significant stake even as prices declined.

Staking ratios remain high across various networks, including Solana (68%), Near (45%), Hyperliquid (44%), and Avalanche (41%). These platforms have seen increased activity, with Ethereum's throughput rising 73% and Avalanche processing four times the number of transactions it did a year ago. This growth in usage has led to cheaper blockspace, with demand increasing accordingly.

Notably, institutions are increasingly participating in staking on younger networks like Hyperliquid. Coinbase and Circle have both recently staked 500,000 HYPE tokens on this platform.