🤑 BREAKING: Ethereum's proof-of-stake contract address now holds over half of Ethereum's supply for the first time in the coin's 11-year history.

🔐 There is often confusion about how this proof-of-stake address works. Think of it as a one-way vault that temporarily locks $ETH to help secure the network. When someone stakes ETH, it gets sent into this contract and is removed from normal circulation, meaning it cannot be spent or traded while it is staked. Later, when a validator leaves and withdraws, the ETH is released back into circulation as newly issued coins on Ethereum’s main network, rather than being pulled back out of the vault itself. As a result, the existing supply can often differ based on whether only pre-burned or total post-burned coins are being counted.

📈 As staking continues to increase in popularity, expect that this address will continue its ascension, particularly when trading slows down during bear cycles.

🧐 Note that the calculation of 50.18% relies on ETH issued historically before burns, as only about ~120M Ethereum currently exist on the network.

🔗 Ethereum's top wallet can be tracked here, along with a table of how much all of the largest $ETH wallets hold, and their ratio of the supply held.