Ethereum [ETH] capitulation soon? Look at these PoS metrics first

A profitable trading day is really hard to come by. Especially when an American billionaire investor (Yes, Charlie Munger) has just called for a ban on cryptocurrencies. Funnily enough, 14 hours (at press time) after his statement to CNBC, the market was nowhere near its doomsday. In fact, Bitcoin [BTC] was trading in the upper […]

, the market was nowhere near its doomsday. In fact, Bitcoin [BTC] was trading in the upper circuit following an impressive +8.45% 7-day rally to take traders to the $24,634-mark.[ETH] crossed its $1,500-psychological level to trade at $1,684 at the time of writing. ETH scalpers had the best time utilizing their skills to drive home unexpected profits. Even so, the market questioned the uptick with an assertion of it being a bull trap.

Some analysts are also of the opinion that the exchange netflow is in its absolute charted territory, and is not giving out hope of a sustained recovery. Usually, when exchange outflow increases by a good margin, traders tend to take that as a precursor of healthy demand. So the question is what should ETH traders look into to analyze the current happenings of the ecosystem? Interestingly, the answer isThese not-so-well-known metrics can help retailers or sharks understand ETH from the networking point of view in order to plan their trading decisions.

It is in this context one should note that the voluntary exit of ETH stakers has kept on increasing after the Merge. A voluntary exit is an event where a validator opts to cease participating in consensus and enters the exit queue. The validators no longer propose or attest to blocks, but the ETH stake cannot yet be withdrawn. What’s the good point here? Well, the metric’s increase or decrease has no effect on the price trajectory whatsoever.On the other hand, the attestation count, which is a ‘yes’ vote to include the latest proposed block at the tip of the blockchain, has been in a healthy state.

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