Analysts Dispute Ethereum Staking Figures; CoinShares Casts Doubt on Santiment's 50% Claim

A contentious debate has arisen concerning the amount of Ethereum (ETH) being actively staked. On-chain analytics firm Santiment reports that a significant milestone has been reached, with 50.18% of all ETH now locked in staking deposits. This suggests that half of Ethereum's supply—approximately 80 million ETH—has been staked, marking a symbolic moment for the blockchain's security and potential for future yield generation. However, this figure has faced scrutiny from CoinShares, with the asset management firm asserting that the actual figure for actively staked ETH is substantially lower, hovering around 30.8%. Luke Nolan, a CoinShares researcher, highlights a critical distinction: Santiment's number includes all deposits ever made, while CoinShares' analysis accounts for withdrawals, painting a more accurate picture of what is currently contributing to network security. The active staking volume, according to CoinShares, stands at approximately 37 million ETH. This disagreement underscores the complexity of blockchain data interpretation and the importance of clarity for investors relying on staking as part of their investment strategy.