The amount of ethereum locked just reached 19,375,242 ETH, setting a new all-time high for this cryptocurrency. Total value locked (TVL) currently stands at $27.7 billion.
Locked ETH* reached recent all-time high of 19,375,242 ETH
When you look closely, the withdrawals seem very small compared to the whole
*All ETH "no longer in circulation":
• Number of ETH staked on the Beacon chain
• The amount of ETH deposited into the beacon contract but not yet verified
• Beacon chain rewards
– Nansen 🧭 (@nansen_ai) May 9, 2023
This milestone comes after what could be considered “very small drops” due to recent withdrawals. This achievement has important implications for ethereum and its investors, especially in terms of its ability to continue its rapid expansion.
Locked Ether can be divided into various categories, including ether that has been staked on the Beacon chain, ether that has been transferred to the Beacon contract but has not been validated, and ether that has been rewarded on the Beacon chain.
These categories, when taken together, indicate the amount of ETH “no longer in circulation,” which reduces the total amount of accessible ETH, which in turn could increase both its demand and price.
As more investors put ethereum (ETH) on the Beacon chain, it demonstrates their confidence in Ethereum's long-term viability and its scalability potential. This trend could help Ethereum become the dominant platform for smart contracts and cryptocurrencies.
When viewed from the broader perspective of the Ethereum ecosystem, recent withdrawals appear to be relatively small moves. Despite some very insignificant changes, the amount of ETH locked continues to increase, which shows that the overall health of the cryptocurrency remains very good. Analyzing market fluctuations will be a useful reminder for investors about the importance of a long-term perspective.
The total amount of ETH locked will continue to increase as Ethereum 2.0 is further developed, and the move to a proof-of-stake (PoS) model becomes more and more stable.
Ethereum Price Today
Ethereum faces strong resistance at $1,900 as the asset recorded a loss of nearly 15% within 24 hours. According to CoinMarketCap data, ETH was trading at $1,847 at press time, with the cryptocurrency price up 0.17%, with trading volume up 2.85%.
Ethereum's volatility is increasing as the Bollinger bands tool, used to estimate volatility, moves apart. The RSI, currently moving below its moving average, is signaling a downtrend as it approaches the oversold zone.
