- Vitalik Buterin suggested changes to miners evaluation shceme.
- ETH/USD is hovering at $170.00, the upside potential is limited.
The creator of Ethereum Vitalik Buterin proposed to change validators’ renumeration scheme after the transition to Proof-of-Stake (PoS) consensus mechanism. The proposal published on GitHub implies that PoS validators will get an annual return on the amount of 18.1%, provided that they validate 1 000 000 ETH. The higher the amount of coins, the lower the rate is. Thus, 134 217 728 ETH will bring them only 1.56% of annual return with the maximum annual issuance set at 2 097 152 ETH.
He also noted that the rates of return do not include the revenues from validating transactions, which means that the actual return of validators might be several percents higher.
ETH/USD, technical picture
ETH has recovered from the intraday low of $166.93 and returned to $170.00 handle. The second largest digital coin is mostly unchanged since the beginning of the day and 2.3% lower from this time on Tuesday.
On the intraday charts, the initial resistance is created by a confluence of SMA100 and SMA50 (4-hour) at $170.80 followed by the middle line of 4-hour Bollinger Band at $171.65. Once this area is cleared, the recovery may be extended towards psychological $172.00 with the ultimate resistance $174.40-50 created by 23/6% Fibo retracement.
On the downside, the support lies with $167.00 handle with the lower boundary of 4-hour Bollinger Band located on approach. The next barrier is created by 38.2% Fibo at $166.35.
ETH/USD, 4-hour chart