Ethereum Sets New Transaction Record as Staking Demand and Regulatory Clarity Propel ETH Higher
Ethereum is hitting new milestones across both network activity and investor participation, driven by a surge in staking and newfound regulatory clarity surrounding liquid staking products.
The blockchain’s seven-day average of daily transactions rose to an all-time high of 1.74 million earlier this week—surpassing the prior record of 1.65 million set in May 2021. The uptick follows a key clarification from the U.S. Securities and Exchange Commission’s Division of Corporation Finance, which stated that specific forms of liquid staking and “staking receipt tokens” may not be treated as securities, provided they meet defined legal conditions.
This regulatory shift has lowered barriers for institutional players and platforms looking to offer liquid staking services—fueling a wave of ETH demand and tightening supply.
Staking Locks Up Nearly 30% of ETH Supply
Data from Dune Analytics shows over 36 million ETH—about 30% of total circulating supply—is now locked in staking contracts. This growing figure highlights investors’ willingness to exchange liquidity for yield as ETH approaches the key psychological level of $4,000, a price not seen since December.
The staking growth comes amid increasing participation by publicly traded crypto treasury companies—firms that hold ETH directly or through structured vehicles. Combined, these entities now control $11.77 billion in ETH. Top holders include:
- BitMine Immersion Technologies: 833,100 ETH (~$3.2B)
- SharpLink Gaming: ~$2B
- The Ether Machine: ~$1.34B
Ethereum co-founder Vitalik Buterin weighed in on the trend during a recent Bankless podcast, expressing support for diversified treasury exposure but cautioning against over-leveraged strategies.
“ETH being part of corporate treasuries is good and valuable,” Buterin said. “But if this turned into an overleveraged game, that’s where risks begin.”
He emphasized that Ethereum’s ecosystem is built on more disciplined actors—not “Do Kwon followers”—referencing the collapse of the Terra ecosystem.
ETH Price Continues to Climb
ETH has surged 163% from its April low of $1,470, recently trading near $3,909 as it catches up with Bitcoin and outperforming altcoins like Solana.
In June alone, more than 500,000 ETH (worth roughly $1.8 billion) was staked, according to CryptoQuant’s Onchainschool, reinforcing the bullish outlook. Analysts say this ongoing reduction in liquid supply reflects long-term confidence in Ethereum’s value proposition.
