Ethereum has achieved a significant milestone with 30% of its circulating tokens now staked, representing a $120 billion commitment to the network, according to ValidatorQueue data. This development comes as Ethereum's price increased by 8% over the past week, trading at $3,359. Despite being 32% below its all-time high, major financial institutions like JPMorgan and Morgan Stanley are showing confidence in Ethereum's future, with predictions of its price reaching $40,000 by 2030. Bitmine, backed by prominent investors such as Peter Thiel's Founders Fund and Cathie Wood's ARK Invest, has emerged as a leading player in Ethereum staking, locking up $600 million in Ethereum recently. The firm now stakes approximately $6 billion worth of Ethereum, nearly half of its total holdings. Bitmine's chair, Tom Lee, anticipates significant revenue from staking and has proposed a stock split to accommodate future growth, with the company's share price rising 5% following the announcement.
Ethereum Staking Reaches $120 Billion as Analysts Predict $40,000 Price by 2030
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