The Ethereum staking volume surpassing 20 million ETH could significantly impact ETH’s price. As more ETH is locked in staking, the circulating supply decreases, potentially creating scarcity and driving upward price pressure, similar to Bitcoin’s halving effect. With over 16% of the total supply staked, reduced liquidity may amplify demand, especially if staking adoption grows among institutions and retail investors. However, this could be offset by market dynamics—higher staking yields might attract more stakers, but if rewards diminish due to increased participation, some may unstake, increasing supply. Additionally, bullish sentiment from Ethereum’s network security and utility could bolster investor confidence, further supporting price gains. Conversely, if macroeconomic factors or profit-taking dominate, the price impact might be muted. Overall, staking growth signals a bullish trend, but external variables will shape the outcome.