Ethereum Validators Stay Staked Despite 70% Rally

Ethereum's recent price surge has been notable, with its value climbing from near $1900 to over $2500 in just a few weeks.

However, this rally may not be as solid as it seems. The staking side of Ethereum's supply is behaving differently than expected during a major price increase.

Instead of seeing a rush to unlock ETH, the network is actually experiencing continued commitment to staking.

The Ethereum Validator Queue has hit 0, indicating that around 902,506 validators are actively participating in the network, with about 42.4 million ETH staked, accounting for 34.8% of the total supply.

This is particularly interesting given that this rally has seen a 70% pump.

The fact that these validators are not exiting staking suggests that they expect ETH to continue appreciating in value.

Another factor at play may be the staking yield, where stakers can earn rewards for participating in Ethereum's network while maintaining their exposure to the asset.