CryptoQuant analyst PelinayPA highlighted a divergence between Ethereum’s price and staking participation, according to a PANews report published on November 10, 2026, at 08:29:49 UTC+8.
The analyst reported that Ethereum’s staking rate had risen by approximately 4.32% since May, with about 36.32% of the total ETH supply staked at the time of the report.
Separately, ETH’s price on Binance had fallen from around $2,800 in October to $2,132. Staking participation continued to rise despite that price weakness, which the analyst interpreted as a sign that investors had not significantly reduced their commitment to staking.
Staked supply and incoming deposits tell different stories
PelinayPA argued that greater staking participation reduces the supply of freely tradable ETH, potentially supporting prices when demand is strong. However, staked ETH is not permanently locked: validators can initiate withdrawals.
The report also noted a 40.11% decline in total staking inflows. That decline underscores the distinction between the longer-term growth in the share of ETH staked and daily inflow activity: a rising staking share does not necessarily mean incoming deposits are increasing.
Source: Original PANews article.