The Ethereum network ETF pledge rate has continued to decline since mid-November 2024

According to The Block data, the current ETH staking ratio has dropped to 27%, falling back to the level of July 2024, which is the first trend decline since the peak of 29% at the end of 2024 and the first decline since staking became popular in May 2023.
Liquidity Staking Derivatives (LSDs) continue to dominate the Ethereum staking ecosystem. Lido remains the dominant liquidity staking protocol, controlling around 69% of the LSD market. Binance's staked ETH is second with around 15% market share, indicating a high concentration among the major providers.
While Ethereum continues to serve as a critical infrastructure for DeFi and NFTs, market attention has recently shifted to other protocols and ecosystems. This trend may reflect investors seeking to achieve higher returns in other ecosystems and protocols, or reduce their staked positions to participate in other market opportunities.