📈 Despite more than 30% of Ethereum’s total supply being staked since the launch of the Beacon Chain and The Merge, ETH is now trading around the same level as on September 15, 2022 — the day when the mainnet merged with the Beacon and fully transitioned away from mining.

Even though staking APR has fallen from around 5% to the current ~2.8%, the validator entry queue is now near an all-time high.

• Entry queue: 3,674,587 ETH
• Exit queue: 480 ETH

🟩 BitMine, which stakes more than 68% of its ETH portfolio, is now experiencing unrealized losses of over $8.5B (-51.5%).

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➕ ETH 💥