Staking revenues on Ethereum (ETH) have fallen to their lowest level in six months, while transaction volume and activity on the network have also seen a significant decline.
Staking revenues on the Ethereum network have been in a serious decline lately. On Thursday, September 12, the seven-day moving average (7DMA) revenue of Ethereum stakers fell to $5.44 million.
This figure was among the notable points as it was the lowest level recorded since mid-February.
Will the PoS dream end early on Ethereum?
After Ethereum launched the proof-of-stake (PoS) method with great fanfare, many investors started staking Ethereum to earn passive income through the network. However, this passive income lost value over time.
As of Friday, September 13, only 1.15 million transactions had been processed on the network, a 13% decrease from the annual peak in March.
At the same time, on-chain volume has similarly declined, falling to $2.83 billion, a 60% loss since its peak in March, with volume down 56% in the past month alone.
According to CoinGecko data, Ethereum, which has increased by 1% in the last 24 hours, is traded at $2,424 at the time of writing.
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