After the implementation of the Shapella upgrade on April 12th, the number of active validators on the Ethereum Proof of Rights network significantly decreased.Since the upgrade of Shapella, the number of active validators on the Ethereum Proof of Rights network has decreased
After the implementation of the Shapella upgrade on April 12th, the number of active validators on the Ethereum Proof of Rights network significantly decreased.
- Since the upgrade of Shapella, the number of active validators on the Ethereum Proof of Rights network has decreased.
- The value of ETH has since experienced a double-digit decline.
According to Glassnode's data, the number of active validators on the Proof of Rights (POS) network has sharply decreased since the Ethereum [ETH] Shapella upgrade was launched on April 12th.
The information obtained from the on chain data provider indicates that the number of active validators on the network on April 12th was 562941. After the Shanghai upgrade was launched only 24 hours ago, this number dropped to 561655 and has remained unchanged since then.
From the observation of the 30 day moving average, the total number of validators voluntarily withdrawing from the Ethereum validator pool has significantly increased by over 400% since Shapella.
The continuous decline in the number of active validators on the Ethereum POS network is due to the rebound in some validators extracting previously stored ETH tokens on the network.
After the upgrade of Shapella, validators who previously protected the network with over 18 million ETHs were able to freely initiate withdrawals, and some of them did. According to the Nansen dashboard, as of the time of publication, 10675 validators are scheduled to be completely withdrawn within the last hour.
ETH prices plummeted
Many people expect that once Shapella goes online, the value of ETH will significantly decline due to increased withdrawals and selling to benefit those who initially held ETH tokens. In contrast, the value of the trumpet increases instantly after upgrading.
According to CoinMarketCap data, the price of ETH increased by 14% between April 12th and 16th. As of April 16th, the trading price of the leading counterfeit coins exceeded $2000, and since then the prices have started to decline. As of the time of publication, ETH's trading price was $1897.75, and has since dropped by 11%.
Despite the price drop, ETH whales holding 100000 to 10000000 ETH coins are still intensifying their holdings. According to Santiment's data, the number of these large whales has increased by 2.5% since Shapella.
On the contrary, whales holding 1000 to 100000 ETH tokens adopted a risk averse approach and sold some ETH assets. According to data from Santiment, their number has decreased by 1% since Shapella.
In addition, although the temporary rise in the value of ETH after the upgrade of Shapella led to the market sentiment turning positive on April 14, the decline in prices led to the weighted sentiment of alt returning to the negative region, which has been maintained since then.
As of the time of publication, this is -1.172. Due to the continued negative sentiment in the market, it may be difficult for ETH prices to experience any significant increase.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
