Originally reported by PANews on November 10, 2026, at 08:29:49 UTC+8.
Ethereum’s rising staking participation contrasted with its falling price, according to CryptoQuant analyst PelinayPA, as cited by PANews. The divergence points to a potential constraint on tradable supply, but does not by itself establish a valuation floor.
Staked supply versus market price
The analyst reported that Ethereum 2.0’s staking rate had increased by approximately 4.32% since May, with around 36.32% of total ETH supply staked at the time of the report. Meanwhile, ETH’s price on Binance had fallen from approximately $2,800 in October to $2,132.
PelinayPA interpreted the continued rise in staking participation as evidence that investors had not substantially reduced their commitment to staking despite price weakness.
Why the supply argument is conditional
According to the analyst, greater staking participation reduces the amount of ETH available for free trading and could support prices when demand is strong. That argument depends on demand: a smaller tradable supply alone does not establish what ETH should be worth. Staked ETH is also not permanently locked, because validators can initiate withdrawals.
At the same time, total staking inflows declined 40.11%. The supplied report did not specify the comparison period for that decline or clarify whether the stated 4.32% rise in the staking rate meant a relative percentage increase or a percentage-point change.
The distinction is between the accumulated share of supply staked and the pace of new inflows. A rising staking share can coexist with weaker daily inflow activity; the two measures should not be treated as interchangeable evidence of strengthening demand.