Despite a 30% Price Drop, Ethereum’s Staked ETH Climbed to 33.98 Million
Long-term confidence has been shaken by ETH ETF’s recent outflows
Ethereum (ETH) has proven its resilience, even in the face of a 30% price drop, with the total staked ETH hitting a new high of 33.98 million. This uptick indicates strong investor confidence in Ethereum’s long-term potential.
However, broader market sentiment seems to be weakening, as ETH ETFs experienced over $524 million in outflows over the past three weeks. This raises questions about how short-term pressures might affect Ethereum’s price trajectory going forward.
Staking Climbs Despite Price Weakness
Recent data revealed a notable divergence between Ethereum’s price and its staking activity. While ETH has faced a significant decline from above $3,200 to around $1,800 – a near 30% drop – the total value staked has steadily increased, reaching 33.98 million ETH.
Amid market volatility, long-term holders appear to be doubling down, viewing the downturn as a buying or compounding opportunity. The sustained growth in staking signals confidence in Ethereum’s upcoming developments and the broader appeal of passive yield through staking.
Notably, the surge in staked ETH around early March occurred despite heightened ETF outflows, indicating that native ecosystem participants may be more optimistic than traditional investors.
ETF Outflows Reflect Waning Institutional Appetite
While on-chain metrics signal growing confidence among Ethereum stakers, institutional sentiment tells a different story. Over the past three weeks, Ethereum spot ETFs have recorded over $524 million in cumulative outflows. The most severe pullback occurred in early March, with consecutive red weeks erasing prior gains and driving total net assets down to $6.49 billion.
This trend coincided with ETH’s price falling below $2,000 and may reflect institutional unease surrounding regulatory delays or broader risk-off sentiment. As ETF redemptions mount, they could exert further short-term pressure on the price, even as core believers continue to stake. The divergence between ETF flows and staking highlights a key rift in Ethereum’s investor base – short-term uncertainty versus long-term conviction.
Bears Maintain Grip, but Signs of Exhaustion Emerge
Ethereum’s daily chart displayed bearish dominance, with ETH trading around $1,893 at press time. The RSI was in oversold territory at 33.13, suggesting weakening selling pressure. The MACD underscored the persistence of bearish momentum, though the histogram was fading, hinting at a potential shift. The OBV flatlined, indicating limited buying interest and muted volume flows.
A further drop below $1,850 could intensify bearish sentiment, while a sustained move above $1,950 would be needed to signal a short-term reversal. For now, Ethereum’s technicals suggest caution amid ongoing downside risk.
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