Key Takeaways
An unidentified whale staked 50,000 ether (ETH), worth approximately $116.97 million, in a single transaction to the staking platform Everstake in a significant show of conviction for the network.
The massive transaction was identified by on-chain analyst Onchain Lens. The deposit makes this whale one of the larger individual stakers on the network and highlights a growing trend of locking up ETH to earn yield and secure the blockchain.
This substantial stake contributes to a larger movement that has seen the total amount of staked ETH reach a new all-time high of 40 million tokens. That figure represents roughly 32 percent of the total circulating supply, according to data from ValidatorQueue.com, up from just 16 percent in mid-2021. The growing lock-up of tokens in staking contracts reduces the immediately available supply on secondary markets.
The whale's bullish action contrasts with the recent treasury management activities of the Ethereum Foundation itself. The foundation recently converted 1,250 ETH into $2.8 million in DAI stablecoins and, according to Arkham Intelligence, has halted its own staking operations entirely. While the foundation's sale was small relative to its holdings, the pivot away from staking presents a different strategic priority compared to the conviction shown by the 50,000 ETH staker.
The broader landscape includes major corporate treasuries like Bitmine Immersion Technologies, which holds nearly 5 percent of all ether. While Bitmine recently reported significant paper losses due to accounting standards, its core strategy remains focused on accumulating and staking ETH.
This large stake on Everstake underscores a strong belief in Ethereum's long-term value proposition, even as different major players within the ecosystem adjust their strategies. With a significant portion of the supply now staked, the market dynamics for ETH are shifting, potentially leading to lower volatility as fewer tokens are available for active trading.
This article is for informational purposes only and does not constitute investment advice.
