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Ethereum 2.0 staking sees undeterred demand despite 31% average losses

Ethereum 2 0 staking sees undeterred demand despite 31 average

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TL;DR

  • Over the past 10 weeks, stakers of Ethereum 2.0 have seen realized value decline significantly.
  • The total number of Ethereum tokens deposited in the ETH2 deposit contract has reached an all-time high, despite long-term stakers having a 31% decrease on average.

Despite Ethereum 2.0 staking becoming increasingly popular among holders, long-term stakers have faced an average loss of around 31%. Furthermore, over the past ten weeks, the realized value of Ethereum (ETH) has decreased as the average price of Ether supply was valued at the day; each coin was last transacted on-chain. Despite this negative pressure, Ethereum stakers and long-term holders remain confident in their investment; many are anticipating a recovery in the altcoin’s price.

Ethereum Shanghai upgrade and ETH token unlock event spark surge in stakers

As the Ethereum Shanghai upgrade and ETH token unlock event approach, stakers have been flooding the ETH2 deposit contract with the altcoin. According to data from crypto intelligence tracker Nansen, a total of 17.52 million Ethereum tokens have now been deposited in the contract so far.

According to data from crypto intelligence tracker Santiment, Ethereum 2.0 stakers are experiencing a drop in realized prices over the last ten weeks, with average losses of 31%. Despite this, the volume of ETH staked on the network is increasing steadily. This comes after Ethereum recently recorded an important milestone surpassing 1.9 billion transactions. In addition, the second-largest cryptocurrency by market capitalization has remained above the $1,553 level since its dip from $1,600 on March 3.

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Source: IntoTheBlock

Data from IntoTheBlock shows that $1,525 is a crucial level of support for Ethereum; 5.93 million wallet addresses have accumulated ETH within the price range of $1,272.13 – $1,525. If this level of support holds, Ethereum has the potential to move higher in price.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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