Ethereum

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The restaking services on the Ethereum blockchain are expanding day by day. S&amp;P Global Ratings suggest that this may pave the way for an “internet bond” market. However, <a href="https://news.todayq.com/ethereum-gearing-to-beat-bitcoin-shows-onchain-data/" rel="noopener noreferrer nofollow">Ether price</a> has struggled a bit in recent times following the Bitcoin price decline. Ether set to boom? 
As per reports, Andrew O’Neill, S&amp;P Global’s digital assets analytical lead had stated that restaking promises a more robust economic security market. He moved ahead to explain that restaking allows new services to be validated by Ethereum node operators using established tokens. This bypasses the need for these services to build their own validator sets.
This move reduces the issues of illiquidity and volatility linked with new, less established tokens.
In Restaking services, investors can earn additional yields on their cryptocurrency. This involves pledging Ether to verify network transactions, similar to earning interest in traditional bond markets.
On the market side, Ether price had dropped by around 6% in the last 30 days, while, it is still up by 10% over the last 60 days. This depicts an increased selling pressure in the market due to recent regulatory challenges.
ETH is trading at an average price of $3,505, at the press time. Its 24 hour trading volume is up by 16% to stand at $16 billion with a market cap of $430 billion. Restaking is trending 
Currently, few restaking services, or “actively validated services” (AVS), are operational. However, analysts foresee a growth in rewards from these services.&nbsp;
The total amount restaked in the leading protocol, EigenLayer, has surpassed 5.3 million Ether. It is valued at approximately $19 billion. It accounts for over 16% of the total Ether staked.
While the potential for restaking is promising, it is not without risks. Operational risks are specific to each AVS, and financial risks could emerge from market speculation.&nbsp;
O’Neill noted that high ecosystem-level financial risks are unlikely as staking and restaking processes are generally non-custodial, and there is no rehypothecation of collateral. He emphasized the importance of monitoring system-level leverage through borrowing and leverage metrics on decentralized finance (DeFi) lending protocols.
Meanwhile, Bitcoin has dropped below the crucial $64,000 price level. BTC is trading at an average price of $63,910, at the press time. Its 24 hour trading volume is up by 40% to stand at $26 billion.

Ether price dips amid Restaking surge, Here’s the S&P’s take

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