spot_imgspot_imgspot_img

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

Ethereum-ETH

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.

ETH-total-value-in-the-eth-2.0-deposit-contract

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.

ETH-open-interest-in-perpetual-futures-contracts-on-Binance

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

BlackRock’s iShares Bitcoin Trust Skyrockets to $10 Billion AUM, Marking Historic ETF Milestone

This article explores the remarkable achievement of BlackRock's iShares Bitcoin Trust (IBIT) reaching $10 billion in assets under management (AUM), reflecting growing institutional interest and trust in cryptocurrency investments.

Bitcoin Futures Open Interest Hits Record High, Signaling Strong Market Sentiment

This article delves into the recent surge in Bitcoin futures open interest, showcasing increased market activity and the implications of speculative buying on price movements.

Bitcoin Enters Bull Market with Predictions of 10-Month ‘Face Melting FOMO,’ Says Analyst PlanB

This article explores the latest Bitcoin bull market forecast by analyst PlanB, the implications of the stock-to-flow model, and the role of new Bitcoin ETFs in shaping investor interest and market dynamics.

Bitcoin Eyes $70,000 Milestone: Bloomberg’s McGlone Predicts Shift from Gold to Crypto

As Bitcoin approaches the $70,000 mark, Bloomberg's Mike McGlone forecasts a pivotal transition in investment from gold to cryptocurrency, signaling a transformative phase in asset allocation.

Can XRP Price Reach $1? Noted Analyst Reveals Prediction!

Ripple's XRP token is trading below $0.60; what will be the next target for the XRP token? Current predictions!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

BlackRock’s iShares Bitcoin Trust Skyrockets to $10 Billion AUM, Marking Historic ETF Milestone

This article explores the remarkable achievement of BlackRock's iShares Bitcoin Trust (IBIT) reaching $10 billion in assets under management (AUM), reflecting growing institutional interest and trust in cryptocurrency investments.

Bitcoin Futures Open Interest Hits Record High, Signaling Strong Market Sentiment

This article delves into the recent surge in Bitcoin futures open interest, showcasing increased market activity and the implications of speculative buying on price movements.

Bitcoin Enters Bull Market with Predictions of 10-Month ‘Face Melting FOMO,’ Says Analyst PlanB

This article explores the latest Bitcoin bull market forecast by analyst PlanB, the implications of the stock-to-flow model, and the role of new Bitcoin ETFs in shaping investor interest and market dynamics.