Ethereum’s staking rewards have been dropping lately, and it’s not good news for stakers.
The average revenue for Ethereum stakers has plummeted to its lowest point in six months. This is because there’s been a slowdown in network activity, meaning fewer transactions and lower demand.
Here’s what’s happening:
- Transaction fees are down: Fewer people are using the Ethereum network, so there are fewer transactions and lower fees. This directly impacts stakers’ earnings.
- Funding rates are low: The futures market is showing a bearish trend, with funding rates at their lowest point in 2024. This suggests traders are cautious and there’s a big gap between those betting on ETH going up and those betting on it going down.
- Buying interest is shrinking: The 50-day average funding rate is consistently bearish, indicating that fewer people are buying ETH.
What does this mean for ETH’s price?
While ETH’s price has been inching up slightly in the last 24 hours, it’s still down significantly over the past week and month. Experts believe that ETH’s price might stay low until there’s a surge in demand for futures or spot markets.
So, while there are some positive signs, the overall picture for Ethereum is still a bit gloomy. Stakers are seeing lower returns, and the market is showing a bearish trend. It remains to be seen whether ETH can overcome these challenges and regain its momentum. /p>
