It proceeds at full speed staking on Ethereum 2.0, which is still in phase beta and technically separated from the main network. In fact, the 28 billion dollars in value that have already been blocked on the test network.
Reminding our readers that these are sums that cannot be released before merge – we underline the importance of numbers of this type, which signal the enormous confidence that many investors, large and small, have in the possibility that the project actually passes to version 2.0.
A confidence that has already been reflected in the price and that will continue to push it towards the year-end targets. We find $ ETH on the eToro leading platform – go here to get a free demo account with unlimited features – advanced intermediary fintech, which also allows you to invest copying others. With the CopyTrader a click to copy the best or to spy on how they are moving.
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In the deposit agreement exceeded 8 million tokens
In the network deposit agreement Ethereum in which tokens end up $ ETH put in staking 6.5 million had been reached token already in August. A sum that many had considered to be the upper and maximum limit – beyond which payments would slow down. However, this has not happened, because in the last 2 months and a little more more than 1.5 million tokens have been added, for a total that exceeds 8 million today and which, at current prices, exceeds i 28 billion dollars in value.
This is extremely important news for the entire network of Ethereum – for the world of decentralized finance and also for investors. Let’s see why together.
- Effects on the circulating stock of Ethereum
The beyond eight million ETH that have been staking are no longer available for the market. And they cannot be until there is an official and effective transition to the merge with Ethereum 2.0. This is still months away, and could have a squeezing effect on the supply of $ ETH on exchange. If the supply and demand curves have any kind of validity …
The huge amount of Ethereum that are already finished in staking they are also an excellent sign of confidence, often by very large investors, towards the transition to Ethereum 2.0. The pressures will increase for the team, but at the same time more and more investors will feel safe putting in even more $ ETH in staking – contributing to the above effect.
Technical analysis of Ethereum: the current market situation
There is no doubt that the barricade for the next few hours, in both directions, will be around $ 3,500, a threshold that in recent days has acted as a watershed between sentiment bullish And bearish. To understand how it could move in the next few hours Ethereum, we will also use what is offered to us by the technical analysis, starting from the moving averages calibrated to 1 week.
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The weekly moving averages are all positive – a sign that at least the chart believes in a forthcoming one bull run. However, another analysis will be added to this analysis, which will use the main ones instead indicators technical analysis.
Here, too, the picture is extremely positive – a sign that this will be the direction in which the future will point precisely for technical traders. A good sign, bearing in mind that always for this type of interpretation, the first important resistance is around the $ 3,610 and therefore there is still a long way to go to run.