Even though the price of ETH has dropped about 26% this year, the staking ratio for Ethereum has increased from around 29% at the beginning of the year to about 31% of the total supply. The continuous growth in staking volume shows that long-term holders remain confident in Ethereum despite price pressure and on-chain risks, gradually reducing the circulating supply in the market. With the development of spot ETH ETFs and the expansion of tokenization activities on Ethereum, institutional demand for staked ETH exposure could bring new structural capital inflows to the staking ecosystem. However, whether this will further impact ETH prices still depends on the actual progress of institutional capital allocation. (The Block) https://(wublock123.com)/news/news-61286