Ethereum Validators Remain the Same Before Pectra Upgrade — What Does This Mean for ETH Price?

Ethereum is preparing to undergo the anticipated Pectra upgrade tomorrow, and on-chain data shows that validators are preparing to cope with any market volatility.

Although ETH price has not experienced much volatility in the past week, the decrease in the number of validators leaving the network indicates the confidence of network members.

Ethereum validators remain steady ahead of Pectra

According to glassnode, the number of validators voluntarily leaving Ethereum has significantly decreased since 05/01/2025, showing that the number of validators choosing to leave the network has declined. On 05/05/2025, only 238 validators left the network — the lowest number since 04/05/2025.

This trend shows that many validators are choosing to stay rather than liquidate staked ETH, demonstrating long-term confidence in the network and its coin.

With fewer people leaving, Ethereum validators seem optimistic about the network's short-term prospects and the potential impact of the Pectra upgrade. If this sentiment is maintained, it could help create a foundation for an ETH price increase after the upgrade.

Moreover, the consistently positive funding rate of the coin reinforces the optimistic sentiment around ETH. At the time of writing, ETH's funding rate was 0.0027%, indicating that traders are still willing to pay fees to maintain long-term positions.

A positive funding rate suggests a prevailing optimistic sentiment in the futures market, with long-position holders paying short sellers to keep their trades open. This move reflects traders' expectations of price appreciation.

Although ETH continues to struggle to surpass the $2,000 mark, futures traders remain optimistic, continuously placing leveraged bets with expectations of price increases.

Price increase setup faces "sell the news" concerns

As the countdown to Pectra approaches, the decrease in the number of validators leaving Ethereum could tighten the circulating supply of ETH, contributing to a potential price breakout after the upgrade. If the optimistic sentiment continues, ETH price could rise to $2,027.

However, the risk of a "sell the news" event still exists.

If the upgrade does not meet market expectations or triggers profit-taking, ETH could face downward price pressure despite optimistic signals from validator behavior. In this case, its price could drop to $1,744.