Ethereum’s staked supply has reached a new milestone, with at least a quarter of its total supply now locked in staking contracts.

This milestone comes despite the Shapella upgrade in April 2023, which enabled staked Ether withdrawals. Ethereum transitioned to a proof-of-stake consensus mechanism in September 2022, allowing investors to lock their Ether to validate transactions in exchange for rewards.

As of Thursday, there are over 30 million Ether staked in the network, with 942,731 validators, according to Dune Analytics data.

Investors need at least 32 Ether (US$77,678) to become validators, but the entry barrier is lowered by liquid staking services such as Lido, which allows users to stake their assets in a pool.

According to Dune Analytics, 31.5% of the 30 million staked Ether comes from Lido staking.