The interest in Ethereum is not limited to users alone. Validators on the network have also shown an interest, with their numbers increasing by 6.22% over the past week. This increase in the validators has resulted in a 24.27% rise in revenue generated by them during this period.
Despite this, according to data provided by Dune Analytics, 55% of Ethereum stakers remained unprofitable at press time.However, the same cannot be said for addresses holding ETH, as the high MVRV ratio suggests that most addresses on the network are profitable. The high profitability of the ETH addresses could incentivize new users to buy ETH going forward.On the other hand, the concentration of whales holding their ETH has increased materially over the last month.
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