Testnet dubbed Zhejiang will launch on February 1 to test staking withdrawal. Validators and ETH staking continue to increase as Shanghai hardfork nears. The Ethereum [ETH] network has come one step closer to the Shanghai hardfork with the launch of a testnet. The testnet, titled Zhejiang, will reportedly serve as a precursor to the eventual […]
Source: Glassnodestaking. According to data from Dune Analytics, a few ETH were in profit out of the total amount invested. The earlier ETH that was staked was also included in the profit%.
The graphic showed that 35.5% of the staked ETH was profitable while 64.5% was underwater. Moreover, there was a strong possibility of a correlation between the price and profitability of staked ETH.However, the observed daily timeframe chart shows that there has been significant sale pressure on . It was trading at about $1,580 as of this writing, with sell pressure dominating the trading period and a loss of less than 1% noted.Despite the strain, the asset has maintained its price at around $1,500. The $1,500 area might be the new support level, but a breach might cause it to fall even further.The success or failure of the testnet’s debut will determine how it will affect Ethereum and ETH staking.Subscribe to get it daily in your inbox.
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