Everstake's latest report highlights a year of significant growth for the Ethereum ecosystem in 2025, despite ETH's stagnant price performance. The report notes that the total value staked in Ethereum reached approximately 36.08 million ETH, representing 29.3% of the supply, with a net increase of over 1.8 million ETH. As of January 27, 2026, about 36.5 million ETH is staked, accounting for 30.26% of the supply. The report also details a 30% increase in Ethereum Layer 1 transactions, reaching 1.5-1.6 million per day, while Layer 2 throughput exceeded 300-330 transactions per second. Key protocol upgrades, such as Pectra and Fusaka, have enhanced the network's scalability and data availability. Despite these advancements, the report warns of risks related to validator software concentration, citing a Prysm client outage in December 2025 that affected validator participation. Everstake emphasizes that Ethereum's role as a settlement layer is growing, with most daily activities shifting to Layer 2 solutions. The report concludes that as institutional interest in staking rises, the market is becoming increasingly competitive, with a focus on liquidity and yield.