Steth gains popularity while the Ethereum Prize falls

Steth gains popularity while the Ethereum Prize falls
The popularity of Steth, the token of Lido, has increased lately. According to a tweet from Glassnode, Steth has retained impressive dominance since the Shanghai update and has developed into a preferred security value. A large number of new addresses with Steth have also been registered in the past few months, which indicates increasing popularity among investors.
A Santiment diagram shows that the offer to Steth on the stock exchanges has decreased significantly in recent months, while the offer has risen outside the stock exchanges. This indicates that more and more people keep Steth outside of the stock exchanges. The total number of Steth owners has also increased, which further confirms the growing popularity of the token.
On the other hand, the price of Ethereum (ETH) has dropped slightly in the last 24 hours. According to CoinmarketCap, ETH was traded at $ 1,955.55 at the time of writing, while Steth was traded at a slightly lower price. Ethereum's offer on the stock exchanges has remained unchanged, which indicates that the asset has moved less in the past week.
A look at the daily chart of ETH shows some bullish signs. The exponential moving average (EMA) band has shown an interest bullic crossover and the MACD and the relative strength index (RSI) have also given bullish signals. These indicators indicate that ETH's price could increase in the next few days.
Despite some bears on-chain indicators, there is still the possibility that the price of ETH will increase. However, investors should keep an eye on the developments.
sources:
- Glassnode: https://twitter.com/glassnode/status/…
- Santiment: https://cnews24.ru/uploads/73a/…
- Coinmarketcap: https://coinmarketcap.com/currencies/ethereum/
- Cryptoquants: Information given not included
- TradingView: Information given not included