Staked Ethereum (ETH) Coins Back in the Green After Market Rally

Leading altcoin Ethereum has seen its price rocket by 40% over the past week, marking one of its strongest weekly performances in recent months.

Top cryptocurrency Ethereum has seen its price increase by around 40% over the past week, making it one of the strongest weekly performances for the altcoin in recent months.

This rally has also pushed staked ETH coins back into unrealized gains for the first time since early March, a trend that could decrease selling pressure.

Ethereum Staked Coins Back in the Green After Market Rally

According to data from CryptoQuant, staked ETH coins, which are not part of the circulating supply and are usually held by validators and long-term investors, had been in unrealized losses since March 3. At the time, the realized price of staked ETH was $2,279, but market prices had dipped below this level.

However, the past week’s broader market rally pushed ETH’s value above $2,279 on May 9 (04:00 UTC). This lifted staked coins above their realized cost basis, signaling a return to profitability.

When stakers go from losses to gains, it triggers renewed confidence in the protocol and encourages further network participation. It can also translate to reduced sell-side pressure as more holders are incentivized to maintain their staked positions.

Another factor in ETH’s favor is the positive funding rate in the derivatives market. At press time, this is at 0.001%. A positive funding rate suggests that futures traders are paying a premium to maintain long positions.

The uptick in demand for leveraged exposure usually indicates strong market conviction and can contribute to further price increases.

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Trading Volume Spikes Fuel ETH Rally

On the price chart, ETH’s climbing on-balance volume (OBV) is highlighting the rising demand for the coin. The key momentum indicator stands at 26.05 million amid strengthening trading activity.

When an asset’s OBV spikes, it signals that buying pressure is building, which can lead to continued price increases. If this trend persists, ETH’s price could climb to $2,745.

On the other hand, if sellers regain market control, they could drive ETH’s price down toward $2,424. Should the bulls fail to defend this support floor, the price decline could reach $2,243.