There is now over $4 billion in staked ETH, locked up for at least another year in the Beacon Chain deposit contract
ETH is becoming an asset to hold and monetize as its price continues to get higher, hitting new highs as AZCoin News reported. Ethereum price has hit all-time highs and by now, bigger price predictions have been made by some of the leading players in the industry.
Ethereum price ATH pushes staked ETH to $ 4 billion
A few hours ago, several exchanges including Binance reported their highest ETH price at around $ 1,475 but the asset has fallen a bit since then, trading at $ 1,408 at press time. 8% increase in the past 24 hours.
Over the past seven days, ETH has increased by 15.57% while Bitcoin has fallen 7% since the same time last week. At least for now, Ethereum is finally breaking away from Bitcoin.
At the current price, there is now over $ 4 billion in staked ETH, locked up for at least another year in the Beacon Chain deposit contract. The ETH 2.0 Launchpad reports this as 2.82 million ETH which is almost 2.5% of the entire supply. This does not sound much but it should be noted that this ETH is now locked up for over a year to secure the new blockchain. It will only be accessible again when Phase 1.5 merges ETH 1 and ETH 2 together.
Staking is just one aspect of the demand for Ethereum. DeFi and stablecoin usage are a couple more, and there is also the fact that there are way more developers working with Ethereum than any of its rivals.
Currently, earnings are roughly% APY, which for those that have staked is an impressive return combined with the premise that the asset has surged by 140% since Beacon Chain was launched less than two months ago.
Institutional investors are also aware of this, and demand is likely to increase in 2021, which leads us to price predictions.
Analyst Mike Novogratz tweeted a lunch meeting with Ethereum co-founder Joseph Lubin, adding that the price could go as high as $ 2,600.
— Mike Novogratz (@novogratz) January 25, 2021
As usual, however, the prediction has sparked the fatigue of crypto tribalism from maximalists of some form or other form.
With the current momentum in Ethereum’s favor, there is no doubt that the asset will be priced higher this year, the high is still to be considered.
- Developers Ethereum 2.0 Indicates That All Is On Track And The Network Is Growing In Terms Of Security And Amount Staked
- Ethereum Price Sets New All-Time Price High Above $1,450 But Now Down To $ 1,425 But Still Up Almost 15% Over The Past 24 Hours