Ethereum OFAC-compliant blocks have dropped, according to recent data. Ethereum validators are also planning to employ an update that would see OFAC compliance reduced by 35%. After this year’s merge, Ethereum [ETH] changed from a Proof-of-Work (POW) to a Proof-of-Stake (POS) network. Because of the consolidation, validators are now responsible for protecting transactions and the […]
ETH stakers continued to be active in their operations despite the concerns regarding the compliance blocks. The value had been increasing, as evidenced by the Total Value Staked metrics from CryptoQuant.
According to the data, as of 15 December, there had been more than $15 million in stake. This meant that despite the concerns regarding compliance and the centralization of ETH validators, more ETH was being staked.A daily period chart of Ethereum revealed that it had lost about 7% of its value over the previous 48 hours. The FOMC report that was made public on 14 December may also have contributed to the price decline.
The short and long Moving Averages were found to be acting as resistance. The yellow line formed the resistance level at $1,300, while the blue line did the same around $1,500.According to the Relative Strength Index metric, which was below 50, the overall trend of ETH was bearish. Given that it had already reached the high-volume node zone, the Visible Range Volume Profile metric also suggested that there was a chance of a further drop. ETH was worth approximately $1,200 at the time of writing.
The Ethereum community’s efforts to make the platform censorship-resistant and neutral are paying off. This change may cause the number of compliant blocks to gradually diminish.Subscribe to get it daily in your inbox.
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