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.