has remained stagnant around the $3600 level for quite some time. But despite the sideways movement, optimism around the cryptocurrency has remained high.Even though the number of stakers increased, which can typically drive up rewards, both the reward rate and inflation rate for staking ETH saw a decrease.
The inflation rate, on the other hand, reflects how quickly the total supply of ETH increases. New ETH is created as staking rewards, and this contributes to inflation. In the long run, this could actually be a positive sign for the value of ETH. If demand for ETH stays strong while the supply grows slower, it could push the price of ETH up.At press time, ETH was trading at $3,669.67. After surging past the $3,600 level after the ETF announcement, the price has moved between the $3,979 and $3,607 level.
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