#ETH质押数量超3500万枚 The continuous rise of Ethereum staking, along with the expanding role of ETH in Decentralized Finance, NFT, and enterprise applications, may bring about four major impacts:

First, supply tightening. After 35 million ETH are locked, the circulation decreases, and when demand rises, prices may increase due to scarcity.
Second, the reward rate for Ethereum staking is variable. As more stakers join, the denominator increases, and the staking rewards decrease. If the reward rate falls below the risk threshold, institutions and large holders may reassess their allocations.
Thirdly, network security upgrade. Under the proof of stake mechanism, the cost of attacks is proportional to the amount of staked coins.
Fourth, institutional and regulatory benefits. The U.S. SEC's statement in 2024 that protocol-level staking "is not classified as a security" reduces regulatory concerns and attracts institutions such as BlackRock, Galaxy Digital, and others to participate.
The market is also paying attention to when the staking ETFs will be released, which is expected to provide a more convenient entry channel.