Ethereum validators stay put – Where does that leave ETH’s price?

Despite last week’s price rally, bearish sentiments remain significant in the ETH market.network recently cratered to a 30-day low, data from Glassnode showed.This resulted in a low ETH burn rate, which has increased the coin’s supply and made it inflationary once again.CoinMarketCap’sDue to ETH’s low price action, validators on the Ethereum network have not been incentivized to unstake their coins for onward sales.

With fewer validators leaving the network, the participation rate among validators has also risen to its highest in the last month. At press time, ETH traded at $3,150, recording a 5% value uptick in the last week. This price growth has been due to a minor resurgence in bullish sentiments among market participants, which AMBCrypto gleaned from its readings of the coin’s key technical indicators on a one-day chart.

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