ETH Transactions Reach New Peak as Staking Demand and SEC Guidance Drive Rally

Ethereum Activity Hits All-Time High as Staking Confidence and Regulatory Clarity Fuel Rally

Ethereum is experiencing a powerful resurgence, with on-chain activity and staking levels climbing to record highs amid increasing institutional participation and easing regulatory pressure on liquid staking products.

The Ethereum blockchain’s seven-day average for daily transactions hit a new peak of 1.74 million this week, surpassing the previous record of 1.65 million set in May 2021. The surge comes as the U.S. SEC’s Division of Corporation Finance issued guidance suggesting that certain liquid staking services and their associated “staking receipt tokens” may not qualify as securities under the 1933 Securities Act, provided strict conditions are met.

This regulatory clarity has significantly boosted market sentiment. With reduced legal risk, institutions and platforms are more likely to expand liquid staking offerings—reducing ETH’s circulating supply and adding tailwinds to price momentum.

Staking Milestones and Treasury Holdings Drive Upward Pressure

Data from Dune Analytics shows that over 36 million ETH, representing nearly 30% of the total supply, is now locked in staking contracts. The move signals growing investor confidence and a preference for yield over immediate liquidity, especially as ETH approaches the critical $4,000 level.

Ethereum’s upward trajectory is further supported by a growing class of crypto treasury companies—public firms that actively hold ETH either directly or via structured vehicles. These entities now hold a combined $11.77 billion in ETH.

Leading institutional holders include:

BitMine Immersion Technologies with 833,100 ETH (~$3.2B)
SharpLink Gaming (~$2B)
The Ether Machine (~$1.34B)

Ethereum co-founder Vitalik Buterin endorsed the trend in a recent podcast interview, stating that treasury diversification provides companies with more financial flexibility. However, he warned against excessive leverage:

“If you told me three years from now that treasuries caused ETH’s downfall, my guess would be they turned it into an overleveraged game,” Buterin said on Bankless. “But these are not Do Kwon followers.”

ETH Price and Network Fundamentals Align

ETH has climbed 163% from April’s low of $1,470, now trading near $3,909, as it narrows the gap with Bitcoin and surging altcoins like Solana.

Supporting this rally is a strong staking trend: over 500,000 ETH (worth ~$1.8 billion) was staked during the first half of June alone, according to CryptoQuant’s Onchainschool—an indication of long-term conviction and a shrinking liquid supply base.