Ethereum, World’s second cryptocurrency has been following the downtrend since the beginning of the year. Meanwhile, the majority of the investors who stoked their ETH on the beacon chain are now holding it with more pain.
Ethereum down by 60% over YTD
Will Sheehan, the founder of Parsec Finance, shared some data around the ETH stakers by the entry price. It depicts that only 17% of the stakers are still in profit right now. However, the majority of the stakers (875) are at a huge loss.
As per the data, a huge amount of investors staked their ETH around the price range from $2,500 to $3,500. However, there is a good amount of users who staked Etherium over the $3.5 k price level. Meanwhile, a big spike can also be seen around the price range of $500.
Ethereum prices have dropped by 60% from its year to date (YTD) level. ETH is trading at an average price of $1,056, at the press time. It is still 78% down from its all time high of $4,891.
As the bear market conditions continue the percentage of Ethereum stakers going in loss can increase. Recently, ETH prices went on to touch the $900 level. Meanwhile, the data only depicted the entry prices and did not add the additional rewards in ETH.
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Lido holds 32% of stETH
However, investors’ interest has dropped in staking Ethereum over the past month. As of now, around 11% of its total supply is being staked. Lido accounts for around 32% of the total staked ETH. Coinbase and Kraken hold 14% and 9% respectively.
Meanwhile, the main 32% of the staked ETH has been distributed across the 29 validators who are appointed by Lido. A governance proposal on Lido to self limit the growth got rejected.
Lido Staked ETH (stETH) is trading at an average price of $1,013 which deppeged from the ETH’s value. It holds a total market cap of around $3.53 billion.
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