Ethereum's price has surged above $2,400, marking a 38.2% increase in the past week and closing in on its all-time high of $4,878.
On-chain activity among Ethereum stakers shows a return to profit, indicating renewed confidence in the network's long-term outlook.
The shift from unrealized losses to profits for staked tokens may reduce selling pressure and strengthen Ethereum's proof-of-stake consensus model.
This positive trend in staking profitability could attract new participants, stabilize the market supply, and signal a bullish cycle for Ethereum's ecosystem.