Ethereum's staked ETH has shown a higher Market Value to Realized Value (MVRV) ratio compared to its circulating supply, according to CryptoQuant data. As of October 28, the MVRV for staked ETH reached 1.7, surpassing the 1.5 ratio of the circulating supply. This indicates that stakers hold 20% more unrealized profits, reflecting a stronger long-term commitment compared to the more liquid circulating ETH, which is subject to profit-taking. The staked ETH supply has grown to 36.1 million, while the circulating supply remains at 121.12 million, influenced by Ethereum's burn mechanism. This divergence highlights the increasing confidence among stakers who lock their tokens for validation purposes.