Ethereum Staking Reaches 35 Million ETH Amid Recent Price Pullback

Ethereum (ETH) has seen an 8.7% decline over the past week, currently trading at approximately $2,498 after reaching over $2,800 in mid-June. This drop coincides with broader market consolidation.

Ethereum Staking and Accumulation Trends

Despite the price drop, on-chain indicators show increased investor interest:

Over 500,000 ETH staked in the first half of June, totaling over 35 million ETH locked.
Rising validator participation reduces circulating supply, potentially impacting future prices.
Accumulation addresses have reached an all-time high, holding 22.8 million ETH.
Increased accumulation suggests long-term holding behavior among investors.
Record staking and accumulation indicate a more illiquid supply, which could elevate price pressure if demand rises.

“Ethereum Hits ATH in Staking: Over 35 Million ETH Locked” – By @onchainschool

A Technical Look: Price Explosion on the Horizon?

Market analysts note a multi-year bullish flag pattern forming on ETH charts since 2021. If this pattern breaks upward, Ethereum could aim for the $8,000 range, influenced by macroeconomic trends, ETF flows, and on-chain fundamentals.