ICYMI: the number of coins in the staking queues now equals 302,000 $ETH Ethereum ETH
But while the first months or even years of Ethereum staking will play in favor of the currency and its ecosystem, the 12% APY rewards will create pressure on the market; when most funds get unlocked and in case of an unpleasant market performance, investors will decide to take profits to cover their losses.Ethereum's market performance
After four months of trading after reaching the all-time high, Ethereum has lost over 40% of its value, creating a massive amount of pressure on investors that chose to stake over holding or trading the second-largest cryptocurrency. Prior to the Merge, Ethereum's staking APY stays at approximately 5% and barely covers any losses from the devaluation of the asset. At press time, Ether trades at $2,757 and has lost 0.6% of its value in the last 24 hours.