Ethereum Reaches All-Time High in Total Value Locked in ETH 2.0 Deposit Contract
In a significant milestone for Ethereum, the Total Value locked in the ETH 2.0 Deposit Contract has reached an all-time high of 28,019,877 ETH. This achievement reflects the growing confidence in Ethereum’s transition to a proof-of-stake consensus mechanism.
Key Points:
– Ethereum’s Total Value locked in the ETH 2.0 Deposit Contract has surged to an all-time high of 28,019,877 ETH.
– This milestone highlights the increasing trust in Ethereum’s move to a proof-of-stake consensus mechanism.
Ethereum’s Perpetual Futures Market Hits 13-Month Low in Open Interest
While Ethereum celebrates its achievements in the Total Value locked, its perpetual futures market tells a different story. Open Interest in Ethereum perpetual futures contracts has hit a 13-month low of $1,282,694,452.42 on Binance.
Key Points:
– Ethereum’s perpetual futures market is experiencing a downturn, with Open Interest reaching a 13-month low.
– This contrasting trend suggests potential shifts in market sentiment and trading strategies.
Active Supply Metrics and Market Performance
Further insights from the Ethereum ecosystem reveal that the Amount of Supply Last Active 1m-3m has reached a month-long low of 9,663,000.605 ETH. This data provides information on short-to-medium-term holding patterns among Ethereum investors, which can impact market liquidity and price dynamics.
Key Points:
– The Amount of Supply Last Active 1m-3m has hit a month-long low of 9,663,000.605 ETH.
– This data sheds light on the holding patterns of Ethereum investors and their potential influence on the market.
Ethereum’s Current Price and Market Capitalization
At the time of reporting, Ethereum is trading at $1,650.51 with a 24-hour trading volume of $5,309,161,791 on CoinMarketCap. The cryptocurrency has experienced a 2.26% dip in the last day, showcasing the inherent volatility in the crypto space. Ethereum remains the second-largest cryptocurrency by market capitalization, with a live cap of $198,414,560,131 and a circulating supply of 120,214,162 ETH.
Hot Take:
Ethereum’s achievements in the Total Value locked in the ETH 2.0 Deposit Contract demonstrate its progress towards a proof-of-stake consensus mechanism. However, the downturn in the perpetual futures market and the decrease in active supply suggest potential shifts in market sentiment. As Ethereum continues to navigate these fluctuations, its current price and market capitalization reflect the ongoing volatility in the crypto space.
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