Despite modifications within the asset’s worth, Ethereum is steadily including to the ETH 2.0 staking contract.
According to the event crew, this happens a couple of month earlier than the Merge is scheduled to happen.
Ethereum Staked Token Hit New ATH
According to Dune Analytics knowledge, extra over 13.2 million ETH have been deposited to the staking contract, nonetheless there are solely about 80,000 distinctive depositors.
ETH Staked on ETH 2.0 Contract. Source: Delphi Digital
The graph above exhibits how ETH’s quantity locked within the staking contract has progressively elevated and reached a brand new all-time excessive by way of ether.
A far cry from the height reached final yr, when ETH was near $5,000, the USD worth had soared to simply shy of $24 billion.
The outstanding outcomes come because the Ethereum growth crew continues to supply updates on the progress of the change from PoW to PoS.
The most anticipated occasion within the bitcoin sector this yr is known as the Merge.
Among different benefits, it ought to make Ethereum much less energy-intensive and improve the community’s sturdiness.
Numerous well-known crypto insiders predict that it’s going to considerably have an effect on the worth of ETH. According to current claims made by Arthur Hayes, it’d improve the asset’s USD valuation in a fashion similar to BTC’s halving.
On the opposite hand, Mark Cuban cautioned that the Merge may initially be a “sell-the-news” occasion however thinks it’s a very good transfer general.
Price Have Began To Slide
According to the weekly shift within the Ether-Bitcoin cross fee, Christophe Barraud, chief economist, strategist, and high forecaster at Bloomberg, Ethereum is poised to lose floor in opposition to Bitcoin for the primary time in seven weeks.
ETH/USD trades at $1,800. Source: TradingView
After the Consumer Price Index (CPI) or inflation knowledge report got here in higher than anticipated, Ethereum has outperformed Bitcoin in restoration regardless of the decline relative to BTC as each stay extremely correlated with the S&P 500 shares, in accordance with a report printed on August 17 by the on-chain social metrics platform Santiment.
Featured picture from Pixabay, Chart from TradingView.com, Delphi Digital