Ethereum's gaming sector and increased gas usage show potential for its revival, despite recent setbacks and pessimistic trader sentiment.
Source: Dapp Radar
Besides NFT enthusiasts, validators on the Ethereum network have also shown growing numbers. According to Staking Rewards data, the number of validators has increased by 7.09% in the last 30 days. However, the revenue generated by these validators has experienced a substantial decline of 46.35% during the same period. The future optimism of stakers regarding ETH remains uncertain.At press time, ETH was trading at $1669.23. The velocity of ETH transactions has also witnessed a decline, indicating a relative lack of ongoing ETH trades.
Traders’ sentiment towards ETH remained largely pessimistic at the time of writing, with 52.02% of all positions being short. This reflected a prevailing bearish sentiment amongst traders.
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