Ethereum · CryptoSlate
L2 growth and $120 billion in staking hide Ethereum’s supply reality
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Ethereum's institutional data hub showed about $120 billion in staked ETH and $40.4 billion in daily average total value locked on layer-2 (L2) networks in a Sept. 21 snapshot.
Key facts
- Meanwhile, US-traded Ethereum ETF sessions saw over $140 million in net outflows from Sept. 15 to 18
- Last week started with $121.1 million in inflows on Sept. 14, then the funds bled $405.4 million from Sept. 14 to Sept. 17
- Ethereum's institutional data hub showed about $120 billion in staked ETH and $40.4 billion in daily average total value locked on layer-2 (L2) networks in a Sept. 21 snapshot
- Ethereum is +1.97% over the past 24 hours and currently sits at rank # 2 by market cap
Summary
01 $120B in staked ETH and $40.4B in L2 TVL measure different uses and cannot be added as fresh demand. 02 Large staking and L2 balances coexisted with more than $140M in US Ethereum ETF outflows. 03 Fresh demand depends on ETH purchases, while holder value also hinges on settlement fees, burn and issuance. They measure different things: ETH committed to network security and assets held across L2 networks, so adding them together would not measure fresh ETH demand.