Ethereum’s onchain conviction grows as staked ETH rises, even as price underperforms

The percentage of staked Ethereum has climbed to approximately 31% of total supply, up from 29% at the start of the year, a steady accumulation that has continued largely independent of price.

ETH is down roughly 26% year-to-date, a notable divergence from the growing body of onchain fundamentals building around the network, including its dominant position in the RWA market. The gap between…