Token Terminal: Ethereum staking rate rises to 36.3%
According to data from Token Terminal, Ethereum’s staking rate has risen to 36.3%, a record high. The data reflects that more and more ETH is being locked in the network’s proof-of-stake consensus mechanism.
In June this year, Ethereum’s staking rate had set a record of 32.4%. Over roughly the past five months since then, the staking participation rate has further risen by nearly 4 percentage points to the current level.
The rise in the staking rate means more ETH is being locked out of circulating supply. As an on-chain data analytics platform, Token Terminal continuously tracks key Ethereum metrics including the staking share, and this data was cited in reports by media outlets such as Cointelegraph.
Original source:
Title: Ethereum’s staking ratio has reached a new all-time high of 36.3%, according to Token Terminal
Publisher: Cointelegraph
Publication date: 2026-11-11
URL: x.com/Cointelegraph/status/2120642896869183642
Source nature: Crypto media report (citing Token Terminal data)
Verification status: The post content has been checked, and cross-confirmed with reports from Phemex and Token Terminal’s previously public data on the 32.4% record
Supporting content: Cointelegraph cited Token Terminal as saying that Ethereum’s staking ratio had reached a new all-time high of 36.3%; the previous June record was 32.4%
ABAB AI Insight
Historically, staking ratios in proof-of-stake networks have gradually risen as yields stabilized and exit mechanisms improved. Since Ethereum’s Merge, lower staking barriers and the spread of liquid staking tools have led more holders to choose to lock ETH to earn rewards rather than hold spot.
In terms of capital flow, the staking ratio rising from 32.4% in June to 36.3% means more ETH has been removed from tradable supply. This reduces a potential source of selling pressure, but the staking rewards themselves are paid in newly issued ETH, so overall it is a value transfer from non-stakers to stakers rather than new network-wide income.
Compared with peers, staking ratios on other PoS networks are usually higher, but given Ethereum’s larger market capitalization and application scale, a lock-up ratio above 36% already constitutes a significant supply constraint. Liquid staking still dominates within this, allowing part of the locked assets to continue circulating through derivatives.
Structurally, the continued rise in the staking ratio strengthens the network’s economic security while compressing the amount of ETH that can be traded immediately. If a future exit queue or lower yields change holder behavior, the locked ratio may decline; the current data only reflects the locked state as of the reporting time.
ABAB News · Cognition Law
A new high in the staking ratio only reflects a higher share of locked supply and does not automatically mean spot price support or higher overall returns for holders.
Liquid staking allows part of locked assets to re-enter circulation, so there is not a one-to-one correspondence between the “staking ratio” and “tradable supply.”
The rise from a historical record to a new high depends more on exit costs and return expectations than on a single market event.