ETH is being massively "locked up," with institutional-level staking entering an accelerated phase.

On-chain monitoring shows that Bitmine staked an additional 113,808 ETH six hours ago, worth approximately $259 million.
As of now, its total staked amount has reached:
3,815,397 ETH
Total value approximately $8.76 billion
This is no longer just a simple configuration, but a systemic "asset sedimentation."
From a market structure perspective, this behavior releases three key signals:
A large amount of ETH is locked, and circulating supply continues to shrink
Institutions view ETH as a "yield-generating asset," reinforcing long-term holding logic
The larger the staking scale, the lower the short-term selling pressure in the market, but liquidity also decreases accordingly
In other words, ETH is shifting from a "trading asset" to a "yield-bearing underlying asset."
As more chips enter the staking system, the core variable influencing price fluctuations will no longer be just buying and selling, but "how many chips are still in circulation."
This is the real key to affecting medium- and long-term trends.
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