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Ethereum Reclaims $2,700 Milestone
Ethereum has reclaimed the $2,700 price level, showing renewed bullish momentum in early June 2025. The surge comes as on-chain data reveals a record-breaking amount of ETH locked in staking, further validating long-term investor confidence in the network. This significant development follows a period of consolidation and range-bound trading, suggesting a potential shift in Ethereum’s near-term price trajectory.
According to data aggregated from Beaconcha.in and Dune Analytics, over 34.8 million ETH is now staked on the Beacon Chain. This surpasses the previous all-time high of ETH locked in staking set in November 2024. This number represents 28.7% of Ethereum’s total circulating supply, which currently stands at 120.8 million ETH.
Staking above 33 million ETH has remained relatively constant over the last year, but early June saw a marked increase. Analysts interpret this as a shift in investor behavior—choosing long-term yield generation via staking over short-term profit-taking amid price volatility. Importantly, this comes despite Ethereum’s recent return to inflationary issuance in February 2025, indicating that investors are focused on long-term utility and gains rather than temporary market conditions.
Staked ETH Breaks Records
The sharp increase in staked ETH indicates growing market maturity and confidence in Ethereum’s long-term value proposition. The 34.8 million ETH staked is not only a numerical milestone but also a signal of deepening trust among validators and retail holders alike.
This rise coincides with a broader DeFi resurgence and increasing institutional attention on Ethereum’s real-world applications. Despite Ethereum shifting from a deflationary to an inflationary issuance model earlier this year, stakers have not been deterred. Instead, they appear more inclined to lock their holdings into the network to earn passive income through validator rewards and liquid staking solutions.
This behavior also reflects a changing narrative—from Ethereum being a volatile asset for speculative gains to a yield-generating utility asset. This transformation is particularly appealing in a climate where traditional interest-bearing assets face macroeconomic uncertainty.
Wall Street Eyes Ethereum’s Role
Ethereum’s fundamental use case as the backbone of decentralized applications continues to gain traction—not only among crypto-native investors but also traditional finance players. A recent research note from Bernstein, a prominent Wall Street brokerage, praised Ethereum for its “real-world utility.”
The report, led by analyst Gautam Chhugani, described Ethereum as a “decentralized computer” with dominant usage in stablecoins, tokenized assets, and smart contracts. The analysts stated,
“Ethereum’s role in real-world utility is beginning to translate into financial interest,”
pointing out that more and more corporations leveraging stablecoins are contributing to Ethereum’s transaction and fee revenues.
This validation from Wall Street marks a pivotal moment in Ethereum’s adoption cycle. It reinforces Ethereum’s transition from a speculative crypto project to a recognized digital infrastructure layer, supporting multiple financial ecosystems.
Price Outlook and Market Indicators
On the technical side, Ethereum’s chart presents a promising outlook. The RSI (Relative Strength Index) is currently at 60—below the overbought territory but showing solid upward momentum. This suggests that ETH is not yet overextended and could continue its ascent if market conditions remain favorable.
Moreover, the Balance of Power (BoP) indicator signals bullish dominance. The recent breakout from consolidation, coupled with strong staking fundamentals, adds weight to this momentum.
Looking at Fibonacci retracement levels, ETH is currently testing resistance at the 0.382 Fib level ($2,702). A decisive breakout above this would bring the 0.5 Fib level ($2,818) into focus. A successful daily close above $2,818 would likely act as a strong technical confirmation for further upward movement, potentially opening doors toward the $3,000 to $3,300 zone.
Investor sentiment has also improved considerably. Many are now positioning themselves for potential upside, especially as staking incentives continue to outperform many traditional yield-bearing instruments.
Conclusion: Ethereum’s Bullish Foundation Strengthens
Ethereum’s ability to reclaim the $2,700 price point, backed by a record-breaking 34.8 million ETH staked, presents a compelling picture of strength and stability. The simultaneous rise in institutional interest and the reinforcement of Ethereum’s on-chain utility suggest the current rally is not merely speculative.
With technicals aligning, macro sentiment turning favorable, and Ethereum’s core value proposition gaining mainstream recognition, the Ethereum path toward $3,000 and beyond is now looking increasingly attainable.
For now, all eyes remain on the $2,818 resistance, which could act as a critical launchpad for Ethereum’s next leg up.