As the Open Position in Ethereum Falls, ETH 2.0 Staking Reaches a New Record

• Ethereum has reached an important milestone; the Total Value Locked in the ETH 2.0 Investment Contract has reached a record level of 28,019,877 ETH.
• Ethereum’s perpetual futures market on Binance experienced a contrasting trend, reaching a 13-month low of $1,282,694,452.42.
• Another notable report from the Ethereum ecosystem shows that the Total Supply in Use (1-day Moving Average) has reached its lowest level in a month, with 9,663,000.605 ETH.

The Total Value Locked in the ETH 2.0 Investment Contract has reached a new record in Ethereum, but there is a decrease in ETH futures contracts.

ETH 2.0 Staking Sets a New ATH in Ethereum

According to a recent development reported by Glassnode, Ethereum has reached an important milestone; the Total Value Locked in the ETH 2.0 Investment Contract has reached a record level of 28,019,877 ETH. This significant point highlights the increasing confidence in Ethereum’s transition to a proof-of-stake consensus mechanism.

At the same time, Ethereum’s perpetual futures market experienced a contrasting trend, reaching a 13-month low of $1,282,694,452.42 on Binance.

Perpetual Futures Contracts have long been a fundamental element in the financial landscape, known for their lack of expiration date. These contracts create a binding agreement between buyers and sellers, requiring the sale of an asset at a predetermined price on a specific future date, regardless of the asset’s market value at that time.

On August 23, 2023, the Ethereum community experienced a similar situation with a 13-month low of $1,283,378,499.67 in open positions for perpetual futures contracts on Binance. This recurring formation indicates possible changes in market sentiment and trading strategies.

Active Supply Metrics and Market Performance

Another notable report from the Ethereum ecosystem shows that the Total Supply in Use (1-day Moving Average) has reached its lowest level in a month, with 9,663,000.605 ETH. This data provides insights into short and medium-term holding patterns among Ethereum investors, which can impact market liquidity and price dynamics.

Against the backdrop of these data-driven insights, Ethereum is trading at $1,655, with a 24-hour trading volume of $5,309,161,791. There has been a 2.26% decrease in the past day, reflecting the inherent volatility in the crypto space. Ethereum is the second-largest cryptocurrency in terms of market capitalization, with a live market cap of $198,414,560,131 and a circulating supply of 120,214,162 ETH.