ETH Is Falling But Holders Keep Staking — What CryptoQuant Data Shows

 



Ethereum is down sharply. Price dropped to around $1,657 in the second week of June, not far above a multi-year channel support that analysts have been watching since 2022.

Yet something unusual is happening on-chain. The amount of ETH locked in staking has not dropped. It has gone up.

CryptoQuant data shows total staked ETH has climbed past 39.7 million, even as the price fell from around $3,400 earlier this year. The staking ratio now sits near 32.5%, one of the highest levels ever recorded. That means nearly one-third of all circulating Ethereum supply is locked and not available for sale.

Chart analyst @alicharts posted a weekly chart on X identifying $1,069 as a key multi-year channel support for ETH. In the analyst's assessment, a revisit of that level would present a historically significant buying opportunity based on the chart structure.

The divergence between falling price and rising staking activity is what makes this moment unusual. Typically, when a major asset drops 50% from its peak, holders start exiting. With ETH, the opposite appears to be happening. Staking inflows remain steady, validator exits are low, and the exit queue has returned near zero.

That does not mean a recovery is guaranteed. The short-term trend remains bearish, and macro headwinds including delayed Federal Reserve rate cuts continue to pressure risk assets. A break below $1,600 could open a path toward $1,400 or lower.

But the on-chain picture points to one thing clearly. Long-term Ethereum holders are not leaving. They are locking up more coins and waiting.

For a full breakdown of the staking data and what the weekly chart structure could mean for ETH price over the coming weeks, read the full analysis at CryptoNewsLive.org.


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