Ethereum price fell, and the staking ratio rose to 36.32%.

CryptoQuant analyst Pelinay PA points out that Ethereum's price movement is diverging from staking activity. Since May, the Ethereum 2.0 staking ratio has risen by approximately 4.32%, with about 36.32% of the total ETH supply currently staked. Despite the price of ETH on Binance falling from approximately $2,800 in October to $2,132, the staking ratio continues to rise. Higher staking participation rates reduced the supply of freely tradable ETH, allowing validators to initiate withdrawals. Simultaneously, total staking inflows decreased by 40.11%.