Ethereum Network Recovers: Active Validators Rise, Missed Blocks Drop

Share on Facebook Share on Twitter

Ethereum: Active Validators Recover After ETF Turmoil

After a period of decline, the number of active validators on Ethereum has risen again. Prior to the approval of the Bitcoin Spot ETF, the number of active validators on Ethereum fell. The network’s participation rate, which had fallen before the ETF approval, has risen.

Details on the Development of Validators

The number of active validators in the Ethereum [ETH] Proof-of-Stake (PoS) network has seen a significant increase in the past week. This follows a decline prior to the approval of the Bitcoin [BTC] Spot Exchange-Traded Fund (ETF), according to data from Glassnode.

Information from the on-chain data provider showed that the number of active validators in the Ethereum network fell from 906,470 to 895,784 from January 4 to January 12. The decline began one day after crypto investment service provider Matrixpot published a report predicting that the U.S. Securities and Exchange Commission (SEC) would reject all Bitcoin ETF applications.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

Causes and Effects of the Decline

Many feared that this prediction could come true, leading to a drop in asset prices and causing liquidations of over $500 million. In the Ethereum network, the voluntary exit of validators rose to an all-time high of 17,821, and the number of validators participating in the verification of transactions on the chain fell.

However, this decline has stopped since January 12. On January 20, there were 904,754 active validators in the Ethereum network, representing a 1% increase from the previous low.

State of the PoS Network

The number of missed blocks reached a yearly high of 115 blocks on January 6. This was due to the increase in validator exits and some validators taking their nodes offline while the market waited for the SEC’s decision on the BTC ETF applications.

A block is considered missed if the validator responsible for generating blocks for each 12-second slot is not available. Since the increase on January 6, it has dropped by 76%. On January 20, only 27 blocks were missed.

Recovery of the Participation Rate

Due to the unavailability of a significant number of validators on the Ethereum chain on January 6, the network’s participation rate fell to a four-month low of 98.94%. As the validators came back online, this rate increased and stood at 99.59% at the time of reporting.

According to Glassnode, a high participation rate indicates reliable availability of validator nodes, and thus fewer missed blocks and higher block space efficiency. At the time of writing this article, the total number of validators in the Ethereum PoS network was 1.17 million. So far this year, the number of validators on the chain has increased by 4%.

Source: Glassnode

Share on Facebook Share on Twitter
Casinos: 48
Profile Ethereum
Symbol ETH
Coin type Alt Coin
Transaction Speed Medium
Pros
  • Second largest cryptocurrency
  • Accepted in many casinos
  • High transaction speed
Cons
  • Partial bugs in smart contracts
Price 3.137,15 €
Percent Change 24h -1,65 %
Percent Change 7d 11,14 %
Percent Change 30d -3,43 %
Percent Change 60d 10,41 %
Percent Change 1y 79,11 %
Market Cap 377.092.657.222,00 €
Official Links
Socials Reddit | X
Best 3 Ethereum casinos

Latest News

Created by

As a bit of a nerd and travel fan, I get to combine many things at KC. As a member of the team, I can ensure that our readers play in reputable casinos and at the same time contribute to the technical development. I do that from Germany or Spain, my adopted country.

Last update: 24. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.