Ethereum (CRYPTO:ETH) 2.0 staking has reached a new milestone, with 47.36 million ETH, or 33.9% of the network’s supply, now held in the ETH2 Beacon Deposit Contract.

This marks a significant increase from two years ago when it held only 10.9% of the supply.

According to Santiment, wallets holding more than 10 million ETH have increased their share by 23%, while smaller wallets have seen declines.

Despite the rise in staking, both staking reward rates and inflation rates have decreased.

The lower reward rate means less new ETH per staked token, but the slower expansion of the overall ETH supply could benefit its value in the long term.

This shift indicates growing participation in Ethereum 2.0 staking.