Bitwise Q4 report: The amount staked hit 43.8 million $ETH , or 35.9% of the total supply—a new all-time high—with net inflows for six consecutive quarters. It looks impressive, but the average annualized yield in Q3 fell from 2.81% to 2.63%. More and more people are locking up their coins, while the rewards keep shrinking. $ETH is now around $2,256, while $BNB is moving sideways at around $707. Posting cadence is unchanged. More coins locked up doesn’t mean prices will rise right away, so don’t take this as a direct bullish signal.

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