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ChainCatcher news, according to The Defiant, the number of Ethereum validators has dropped by about 10% since July, returning to April 2024 levels. This is the first time there has been a sustained exit of validators since the switch to the proof-of-stake mechanism. As of November 11, the daily active Ethereum validator count fell below 1 million for the first time since April 28, currently standing at 999,203. The exit queue waiting time has reached a record high of 17.6 days; at the same time, the waiting time to join as a validator has also surged to 22 days, with about 1.2 million ETH waiting to be staked. Clemens Scarpatetti, CEO of CryptoCrew Validators, stated that the decline in active validators reflects a mix of cyclical and structural factors, including long-term stakers taking profits after ETH's strong performance in Q2 and Q3, as well as large-scale withdrawals by liquid staking providers such as Lido. The decline in staking yields is also an important factor. At the time of writing, Ethereum's annualized staking yield is about 2.9%, a significant drop from the record 8.6% in May 2023. Meir Rosenschein, Product Director at DcentraLab, said that the decline in staking yields and the rise in borrowing costs have made leveraged staking unprofitable. According to Dune data, the decentralized staking protocol Lido leads the market with over 8.4 million ETH, accounting for more than 23%. A certain exchange holds about 9.2% and 6.5% of the staked ETH share, respectively.

Jinse Finance reported that crypto KOL IcoBeast had his $1 million MegaETH token allocation canceled because IcoBeast publicly stated his intention to hedge his MEGA allocation, which violated the rules associated with a one-year lock-up period. Previously, MegaETH Chief Strategy Officer Namik Muduroglu posted on X: "Anyone participating in the MegaETH sale and locking tokens for one year must: (i) acquire tokens for their own account, with no intention of resale or transfer; (ii) not engage in any transfer, resale, or hedging transactions that violate applicable laws. Anyone who publicly discusses OTC trades and hedging plans on Twitter will be refunded and will not be allocated any tokens." Muduroglu stated that the token sale was oversubscribed by 28 times. There is no point in allocating tokens to those who want to sell them before even receiving them; it is more beneficial for MegaETH and other MEGA holders to allocate these tokens to those who are bullish on MEGA and at least willing to hold during their self-imposed lock-up period. (Decrypt)