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In just five days, stakers have unlocked the Ethereum (ETH) cryptocurrency worth $172.1 million at current exchange rates.
Between 23 and 28 August, the number of ETH staking coins fell by 67,840 to 33,956,574. As such, the number of digital assets in circulation increased sharply, which could have triggered a bearish trend. However, on Thursday, the number of blockchain coins began to rise and now stands at 33,976,350 worth $86.2bn.
The day after stakers began withdrawing the cryptocurrency, the Ethereum exchange rate went down and by 28 August had fallen 15%, dropping to its lowest value since 8 August at $2398 on the Bitstamp exchange. The price of ETH then corrected by almost 7%, but failed to break the 38.2% Fibonacci level and was in danger of falling to $2460.
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