"Only about 30% of Ethereum (ETH) is actually staked"…Rebuttal to analysis claiming it topped 50%
Summary
- On-chain analytics firm Santiment reported that Ethereum (ETH) staking has exceeded 50% of total supply.
- CoinShares analysts said Santiment’s figure is closer to cumulative deposit records than the actual amount of active staking.
- They said the actual active staking amount, excluding withdrawals, is about 37 million ETH (30.8%), suggesting interpretations that “more than half of ETH is staked” may be overstated.
Industry experts pushed back as potentially misleading against a claim by on-chain analytics firm Santiment that the amount of Ethereum (ETH) staked has, for the first time, exceeded 50% of total supply.
According to crypto (cryptocurrency) news outlet CoinDesk on the 18th (local time), Santiment estimated that 50.18% of total ETH supply is deposited in the staking deposit contract. CoinShares analysts, however, said the figure does not accurately reflect the amount of ETH actively staked.
They explained that "the Ethereum staking deposit contract only accumulates deposit records, while withdrawal data are not netted out," adding that "the roughly 80 million ETH cited by Santiment is closer to cumulative deposits than an actual balance."
Excluding withdrawals, the amount of active staking that is actually contributing to network security is about 37 million ETH, which is estimated to be around 30.8% of total supply.
This has prompted criticism that interpretations claiming "more than half of ETH has been staked" may have been overstated.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![Wall Street cheered Nvidia–Meta tie-up, but ‘flinched’ at rate-hike talk [New York market briefing]](https://media.bloomingbit.io/PROD/news/32f5a9d3-5551-4f6e-bbd3-aa4cf4d0d897.webp?w=250)
