50% of Ethereum Supply is Staked: What It Means for ETH

Key Insights

• The Proof-of-Stake contract on Ethereum now holds 50% of the total historical ETH issuance.
• BlackRock and BitMine were continuing to accumulate Ethereum as per on-chain data.
• Ethereum price is approaching the low that initiated the 2025 rally, making it a prime buying zone for traders.

Ethereum (ETH) hit a new milestone, highlighting how its last network upgrade was a game-changer. The Fusaka Upgrade that rolled out in Q4 of 2025 saw a massive reduction in fees, among other improvements.

Since the upgrade, Ethereum has grown in terms of network activity. However, its price tracks the broader market outlook, which was bearish.

The upgrade made Ethereum the main focus of the ecosystem, drawing a lot of attention from Layer 2 solutions. Vitalik Buterin echoed this shift of focus.

With that in mind, how do the network activity and price of Ethereum look in detail?

Ethereum Unlocks New Record For Ots PoS Contract Address

To begin with, the Proof-of-Stake (PoS) contract address held 80.95 million ETH. This was more than half of the total ETH supply ever issued. Hence, a new record for the network.

However, other on-chain analysts questioned this figure. They noted that only 36.9 million ETH were actively staked on the network. This amount accounted for roughly 30% of the total supply.

For clarification, the PoS address held not only staked ETH but also all other forms of ETH. This disparity in the data sparked discussions about stakeholder metrics and network operations.

These developments indicated that liquid ETH supply in circulation was declining sharply. Hence, the reduction could lead to a supply shock. Such an event is usually bullish for the underlying asset’s valuation in global finance.

Despite prices being more sensitive to demand, it did not guarantee an immediate increase in prices. Still, this spike in PoS holdings indicated that the network was more secure.

Institutional Accumulation: BlackRock and BitMine Buying ETH

Institutions were starting to act too, with BlackRock and BitMine at the forefront. Recent SEC filing updates indicated that BlackRock was buying ETH for its planned iShares Ethereum Trust, particularly for staking.

This is because the institution aimed to yield returns without directly managing their own wallets. So, it was clear that BlackRock believed in ETH for the long term.

Moreover, BitMine’s Tom Lee also purchased an additional 20,000 Ethereum from the BitGo exchange. This amount was worth about $39.8 million.

As a result, the firm continued to lead in terms of the amount of ETH held by DATs, another group of institutional investors.

Whales, on the other hand, were using leverage to go long on ETH. This meant there was a scramble for ETH tokens as liquid supply was tightening.

These moves further reduced the amount of ETH supply in circulation. That could result in higher prices if demand grows too.

Which Buying Zone Will Ignite Ethereum Price Rebound?

On the charts, ETH price was still being driven by bears. The altcoin was approaching a fork between two areas where buyers had previously shown interest.

Ethereum price was above a short-term demand at $2,000. If buyers protect $2,000, a move back toward resistance is possible.

But failing to hold $2,000 could lead to the lower 2025 zone around $1,150–$1,350. This zone ignited the altcoin season rally for the previous year.

Historical data showed that the current level could be in line as ETH continues to drop toward it. Momentum was still leaning toward the bear side.

So, a strong bounce from $2,000 would limit losses and suggest that buying had exceeded selling. Otherwise, more selling could push the price into that deeper zone, making short-term longs more risky. That leaves ETH very bullish on the network activity side and bearish on the charts.

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