Ethereum (ETH), the second-largest crypto by market cap, has been in focus as an investment avenue through staking. As the global staking market cap a
pproaches $96.72 billion, we assess if Ethereum staking demand falls short against traditional financial instruments.. In the past 24 hours, the number of staked ETH increased by 32.8%. There was a decrease in 24-hour trading volume by 7.8% while Ethereum's price remained muted close to $1,640. The staking ETH market capitalization also rose to $44.63 billion in the last seven days, recording a surge of 3.6%.
Therefore, in the short run and despite cooling inflation levels, some analysts think a recession is likely in the US. In Q4, Bloomberg predicts agrowth reduction of at least 1%. These factors could make staking ETH a preferred avenue, at least in the near term. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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Optimism price has been in a downtrend since the beginning of August, with no recovery noted recently. Whale addresses in the same duration have seen a significant increase in their OP holdings.Bitcoin price will likely hit $22,800 before 2024 should it follow its nine-year pattern
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