• Ethereum’s voluntary exit count has seen a surge following the Shanghai upgrade, with 183 validators opting out of the validator pool.
• Fees have spiked up to their highest levels year-to-date, as ETHUSD price has also seen an upward trend.
• Bitcoin open interest has dropped by nearly 15% in the past two weeks.
Ethereum Voluntary Exit Count
The Ethereum voluntary exit count saw an immense surge on March 16th, with 183 validators that opted out of the consensus and entered the exit queue. This is the second-highest number since the merge, which implies bearish pressure on Ethereum. Despite this, ETH holders are unable to withdraw their stake until the Shanghai upgrade is online.
ETHUSD Price and Fees
In addition to ETHUSD price experiencing an increase, transaction fees have started to skyrocket reaching its highest year-to-date levels. These high fees might be due to miners competing for block rewards or users attempting to pay higher fees in order for their transactions to be processed quicker by miners.
Bitcoin Open Interest
The open interest rate for Bitcoin has dropped by almost 15% in just two weeks time. This indicates a lack of trader’s confidence or could simply mean that traders are taking profits off of their positions before entering different ones as they wait for more market clarity in order make better trading decisions.
US Lawmaker Statements
A US lawmaker recently commented on President Biden’s administration saying that throwing money at a problem was not always going to be the answer when it comes to economic recovery from COVID-19’s effects on society and markets around the world. He believes in helping people rather than focusing solely on propping up certain industries or corporations through economic stimulus packages and bailouts with taxpayer dollars..
Bank Deposits Resume Slide
Recent reports show that banks have resumed their slide as First Republic Bank gets $30B in deposits from customers across America who are looking for higher returns than what traditional savings accounts offer them due to low interest rates set by central banks around the world.