Analysts say actual ETH staking is around 30%, not 50%

Industry experts have pushed back against an analysis from on-chain firm Santiment that claimed Ethereum (ETH) staking volume had surpassed 50% for the first time, calling the figure misleading, CoinDesk reported. Analysts at CoinShares noted that while Santiment reported 50.18% of the total ETH supply is in the staking deposit contract, this contract only records deposits and does not reflect withdrawal data. Taking this into account, they estimate the active staking volume actually contributing to network security is 37 million ETH, or 30.8% of the supply. The 80 million ETH figure cited by Santiment is a cumulative record, not the actual current amount, the analysts added.