30% of Ethereum Supply Locked as Whales Wage All-Out Accumulation Spree

▲ Ethereum (ETH) whale / AI-generated image

Approximately 30% of Ethereum (ETH)’s total supply has been locked in staking contracts, marking an all-time high, while major whale entities are aggressively accumulating amid price weakness, signaling a potential structural shift in the market.

According to cryptocurrency outlet Bitcoinist on February 13 (local time), on-chain data analysis of the Ethereum network shows that about 30% of the total supply has been deposited for staking. This is the highest level recorded since Ethereum transitioned to a proof-of-stake system. Currently, around 36.6 million ETH is staked, effectively removing tens of billions of dollars worth of assets from the liquid market.

Despite Ethereum’s recent struggles below the $2,000 level, staking demand has sharply increased. This trend is believed to be led by large institutions and whale entities such as BitMine. Rather than reacting to short-term price fluctuations, these players are expanding long-term holdings to earn staking rewards. Smaller wallets are also depositing ETH to receive validator rewards, further intensifying the supply squeeze.

With nearly one-third of circulating supply locked in staking, the market’s liquidity structure is undergoing a fundamental transformation. Staked assets require a significant waiting period before withdrawal, making them unlikely to generate immediate selling pressure. Experts say that if demand rebounds amid sharply reduced liquidity, upward price volatility could expand significantly.

Ethereum is currently trading below key support levels due to macroeconomic uncertainty and broader pressure across the cryptocurrency market. However, on-chain indicators show that large holders are reducing exchange balances and reallocating positions through staking channels. This strategy minimizes selling pressure while increasing network participation, suggesting that Ethereum’s fundamentals are strengthening despite the price downturn.

With record supply lockups and concentrated whale accumulation converging, Ethereum appears poised to enter a new market cycle. If the current disconnect—where price indicators lag behind network activity metrics—resolves, pent-up buying pressure could trigger a powerful breakout. Investors are closely watching how the liquidity bottleneck may serve as a catalyst when market sentiment shifts.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted solely for informational purposes.*