Ethereum staking ratio rises to 36.32% as ETH price falls to $2,132

Staking share climbs while the price drops

The share of Ethereum's supply held in staking has continued to rise even as the token's price fell, according to an analysis by the data firm CryptoQuant reported by ZyCrypto on 11 November. Around 36.32% of the total ETH supply is currently staked, the analysis says.

The staking ratio has grown by roughly 4.32% since May. Over a similar period, ETH on Binance fell from about $2,800 in October to $2,132, according to the same analysis.

CryptoQuant describes the pattern as a negative correlation between the price and the staking ratio: as the price moved lower, staking participation kept rising.

What the figures do and do not show

Staking locks ETH in the network, which reduces the amount available to trade. The analysis presents this as a possible supply-side support if demand holds, not as a forecast.

The same data carries a counterweight. Total staking inflows have fallen by 40.11%, which CryptoQuant separates from the longer-term growth in the staking ratio. Daily flows and the share of supply staked are different measures.

Staked ETH can also come back to the market. Validators can begin withdrawals at any time, so the locked supply is not permanently removed.

Open questions

The analysis does not say what would reverse the divergence between price and staking participation, or how much of the staked supply would return if the price fell further. It also does not give a date for the 36.32% reading beyond the 11 November report.

CryptoQuant's conclusion is conditional: the supply dynamic could support the market over the medium to longer term if demand absorbs current selling pressure. Whether that happens is left open.