Ethereum Staking Yields Decline Impacting ETH Price: 10X Research Report
Ethereum Staking Yields on the Decline
A recent report by 10X Research has identified a decrease in Ethereum blockchain activity due to falling staking yields. The Annual Percentage Rate (APR) for users on Lido, Ethereum’s primary staking provider, has steadily decreased to 2.90% since August.
The report suggests that the surge of low-cost meme tokens on networks like Solana has shifted many ETH holders’ perspective on staking, reducing it to merely a modest income source rather than a means for broader ecosystem involvement.
Additionally, the availability of high-yield options in traditional finance has made staking ETH on the Ethereum network less attractive, diminishing demand for the platform.
ETH Price Prediction: Bearish Outlook
As of now, Ethereum is trading at $2,512, nearing the resistance at $2,582. Analysis of the ETH/USD chart indicates a bearish trend for the cryptocurrency. The Moving Average Convergence Divergence (MACD) shows a negative momentum, with the potential for further decline.
If the current trend persists, Ethereum’s price could drop to $2,425, and a failure to hold this level may see a further decline to $2,116.
On the flip side, a positive market shift could drive Ethereum’s price above $2,582, targeting $2,871 — its previous high in August.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
