Analysis: ETH Staking Slightly Declines Amid ETF Approval Rumors
CryptoNewsTerminal Staff22 May, 2024
Analysis: ETH Staking Slightly Declines Amid ETF Approval Rumors
On-chain analyst Crypto Rand (@CryptoRand) analyzed data from the Ethereum (ETH) Beacon Chain, revealing that the amount of staked ETH has slightly decreased since January 20 (UTC). This movement is speculated to be influenced by ETH holders cautiously anticipating the US Securities and Exchange Commission's (SEC) verdict on spot ETFs. As of January 20, the amount of staked ETH was noted at 32,166,174. Crypto Rand highlighted that this reduction reflects a shift in strategy by some ETH holders, who may be anticipating potential market volatility surrounding the SEC's decision. The analyst also emphasized that the overall trend of ETH staking remains positive, with the total staked amount continuously growing since the Beacon Chain's launch in December 2020. This suggests that stakers are generally optimistic about the long-term prospects of Ethereum.
