Ethereum Staking Reaches All-Time High with 30% of ETH Supply Locked

Ethereum staking has reached a new all-time high, with nearly 30% of the total ETH supply locked in the proof-of-stake network. As of January 14, 2026, over 36 million ETH is staked on the Beacon Chain, representing a staked market cap of more than $118 billion. The growth has been driven by institutional participation, including ETFs and treasury firms according to The Block.

The surge in staking activity has coincided with increased interest in Ethereum as a productive infrastructure rather than a speculative asset. BitMine Immersion, chaired by Tom Lee, has significantly expanded its Ethereum holdings and staking exposure. The company holds over 4.17 million ETH, or 3.45% of the circulating supply, with a large portion staked in Ethereum.

Validator activity has also surged, with over 900,000 active validators and a validator entry queue reaching 2.3 million ETH. This indicates strong demand for staking positions despite the limited selling pressure, as the validator exit queue remains near historic lows.

Why Did This Happen?

Institutional adoption has played a crucial role in the rise of Ethereum staking. Companies like BitMine have shifted from passive accumulation to active yield generation, staking a significant portion of their holdings. BitMine has staked over 1.5 million ETH, valued at $5.13 billion, or 4% of the total staked supply.

The move aligns with broader market trends where Ethereum is increasingly being viewed as infrastructure. Tom Lee has argued that Ethereum is transitioning from a speculative asset to a core network that supports stablecoins, lending, and tokenized assets. This shift is similar to Bitcoin's evolution into an institutional store of value.

How Did Markets React?

Ethereum's price has also been positively impacted by the staking boom. ETH has surged 11% year-to-date, rising over 5% in the past 24 hours. The price has approached the upper band of a two-month sideways channel, with a break above $3,400 expected to generate further momentum.

BitMine's stock has mirrored the broader crypto market rally, gaining 11.5% year to date. The company's recent staking activity has led to increased investor confidence, with its stock rising 3.8% in after-hours trading.

What Are Analysts Watching Next?

Analysts are closely monitoring staking yields and market conditions. At current staking rates of approximately 3.12%, BitMine's staked ETH could generate significant annual returns. The company's total staked ETH is expected to continue growing as it holds over 4 million ETH.

Tom Lee has remained bullish on Ethereum and the broader crypto market. He projects a multi-year adoption wave driven by institutional alignment, similar to Bitcoin's trajectory from 2017 to 2021. He anticipates strong gains for crypto in 2026 and beyond, despite potential volatility.

Market observers are also watching for regulatory developments, particularly in the U.S., where discussions about stablecoin regulations and interest on deposits continue. JPMorgan and other major banks have acknowledged the growing importance of stablecoins and the need for regulatory clarity.

The continued institutionalization of Ethereum suggests that staking will remain a key component of the network's economic model. With more than 24% of all staked ETH managed by Lido Finance, the role of liquid staking protocols is also under scrutiny as they shape market liquidity.