Ethereum Auditor Sees MEV ‘Consolidating’, Will It Help ETH Move Up the Chart?

  • Ethereum validators continue to grow in the network as they adopt MEV boost at scale.
  • The trader is addressing a long position on the decline in Ethereum.

According to data from Delphi Digital, most auditors are on Ethereum The network adopted the MEV (Mineable Mineral Value) boost after the merger. This MEV boost allows validators to earn more profits while reducing the risk of centralization on the Ethereum network.

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Christmas MEVy

From Delphi Digital data, it has been gathered that 90% of validators on the Ethereum network have adopted the MEV boost. The MEV boost may be one of the reasons why validators continue to move towards the Ethereum network despite the decline in revenue.

According to data from Staking Rewards, the number of validators on the Ethereum network has increased by 3.55% in the last 30 days. At the time of writing, the number of validators on the Ethereum network is 490,818.

However, although the number of auditors has increased, the revenue collected by them has decreased significantly. Last month, revenue collected by auditors decreased by 20.39%.

Source: Staking Rewards

It wasn’t just validators who showed faith in Ethereum despite the turbulent circumstances. According to information from glass knotLarger addresses with more than 32 Ethereum coins, continued to grow.

At the time of publication, the number of addresses holding more than 32 coins has reached an all-time high of 130,679 titles.

Source: glassnode

Traders became skeptical

Although the headlines have shown interest in Ethereum, retail interest is starting to wane. Also, in the past few days, the percentage of long positions held by large traders has decreased from 65.25% to 56.67% according to coinglass data.

Source: coinglass

One of the reasons for this could be the decrease in activity on the Ethereum network.

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According to Santiment data, the daily active addresses on the Ethereum network decreased from 1.42 million to 408.8 thousand in the past two weeks.

In addition, the speed of Ethereum has decreased significantly over the past month. This indicates that the frequency with which Ethereum is exchanged between addresses has decreased.

Another reason for traders’ skepticism could be the declining Ethereum development activity. A decrease in development activity indicated that the number of contributions submitted to Ethereum’s GitHub by Ethereum developers has decreased.

Source: feeling

At the time of publication, Ethereum is trading at $1,215.61 and its price is down 0.4% in the past 24 hours.

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