28.9% ETH Pledge Rate, Over 15.3% Locked for Years

Key Points:

• ETH pledge rate has surged from 23.8% in January, showcasing increased investor confidence.
• Over 15.3% of staked ETH has been locked for over three years, indicating long-term solid commitment.

According to IntoTheBlock, 28.9% of the ETH pledge rate compared to 23.8% recorded in January.

Ethereum Pledge Rate Reaches New Heights

The ETH pledge rate may indicate that investors are becoming confident in Ethereum’s long-term potential. More than 15.3% of all staked ETH has been pledged for over three years.

This is a significant rise in staking, meaning more and more investors seem willing to lock their ETH for the longer term, with a strong belief in Ethereum’s future growth and development. Staking is validating Ethereum network transactions to earn rewards, including passive income generation, an increasingly popular way investors support the network and gain returns.

Read more: Crypto Whitehat Hackers Still Prefer Ethereum In 2024

Long-Term Commitments Signal Investor Confidence

This suggests that the transition of Ethereum to Proof of Stake has had a generally positive effect on investor sentiment. Many, if not all, believe that with Ethereum still well on its path to implement upgrades-including the highly discussed transition to Ethereum 2.0-the network will be able to be further scaled and more efficient in its utility and, therefore, more users.

This also increases the staking rate because of the interest in DeFi and NFT projects based on Ethereum’s blockchain. With new projects coming out and the general development of the Ethereum ecosystem, the demand for ETH will continue to increase, further raising the value of this cryptocurrency.