"Resurgence in Ethereum staking activity indicates initial signs of renewed vitality," David Lawant, head of research at institutional crypto exchange FalconX, said in an email on Friday.
CoinDesk's composite ether staking rate continues to hover between 3.5% and 4% for the fourth straight month.
"The back and forth on S-1 amendments over the upcoming months ahead of the key date on May 23 will hint at whether that's a real possibility," Lawant noted.
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