Validators for Ethereum (ETH) are lining up once more to become part of the ETH staking ecosystem now that the tumultuous January 2024 is behind us. Is this a sign of optimism?
Ethereum (ETH) validator queue at highest since October
The quantity of validators anticipating the chance to stake their ethers is at its greatest point since late October 2023. According to statistics, the Ethereum (ETH) staking environment is getting closer to one million validators.
https://x.com/AdrianoFeria/status/1753644213843935483?s=20
For the third consecutive day, the vital indicator is rising. Blockchain and AI enthusiast Adriano Feria noticed this pattern.
The Ethereum (ETH) staking ecosystem saw its most turbulent period in January 2024 since unstaking was made feasible with the mainnet activation of the Shapella update.
Large cryptocurrency lender Celsius made the decision to sell its Ethereum (ETH) holdings and start a mass withdrawal as part of its bankruptcy process. With 16,000 validators in the exit line, there is now over $1.1 billion in unstaked Ethereum.
Simultaneously, the departure queue cleared quickly, according to the Validator Queue tracker.
Ethereum (ETH) price struggles to stay above $2,300, volume loses 30%
Currently, the Ethereum (ETH) network has 918,652 active validators. They amassed 29.3 million Ethers in total, or 24.3% of the total amount available.
With these figures, ETH staking yields an annual percentage yield of 3.6%.
The price of Ethereum (ETH) is attempting to hold over $2,300 in the meantime. ETH has crossed this barrier seven times in the past two months, but each time it has resulted in a retracement.
