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With the global crypto market cap consolidating around $1.15 trillion, Ether’s price has been hovering around $1800 over the past week. As a result, the market is neither greedy nor fearful. At press time, the Ethereum F&G Index flashed a neutral reading of 46. From the beginning of 2023 until now, Ethereum’s realized price has consistently hovered between $1,500 and $1,600. At press time, it was on the brink of $1700 . The realized price is technically one of the most reliable on-chain Analysis metrics. The price is arrived at by dividing the sum of all coin values at the time when they were last moved by the circulating supply. Usually, the realized price has acted as a support during bear markets. On the other hand, whenever the market price has dropped below the realized price, it has swiftly bounced back, suggesting the market sees Ethereum as undervalued during those moments. Consequentially, this resilience indicates an underlying confidence in Ethereum’...

2023 has been the year of change so far. The crypto industry witnessed the focus shift from Bitcoin [BTC] to BRC-20 tokens and Shiba Inu [SHIB] to PEPE. Similarly, the primary focus of the Ethereum [ ETH ] network seems to be limited to staking at the moment. Ethereum has propelled staking to the forefront of the crypto industry. As a result of this growing interest in staking, there has been a notable drop in the overall supply of ETH held on exchanges. According to recent data, the percentage of Ethereum’s supply on exchanges has reached 14%, marking the lowest level in seven years since July 2016. Source The current data suggested that about 16.04% of the total Ethereum supply is currently being staked. As reported by OKLink, the current staked amount of ETH stands at around 19.29 million. Since the Shanghai upgrade, only 3 million ETH have been unstaked. This indicated that most of the ETH has remained locked in the network. The decrease in the Ethereum balance ...