Over the past month, Ethereum has won win after win. If it’s not a win in its price, then it is another step forward in its move to being a proof of stake network. The network’s major milestones have been a source of optimism for many investors. The network is now poised for another landmark, which promises better times to come.
Shares Nearly 13.3 METH
The stakes on the network continue to increase dramatically. Over a year has passed since the first validator node was established. Since then thousands have joined this effort. There have been many milestones along the journey, and Ethereum is moving toward another.
The Merge was announcing that the number of ETH being staked in advance of it had risen to over 10%. More ETH is now being staked due to the Merge’s anticipated ramp up and anticipation. With this, the number of ETH staked now stands at almost 13.3 million. Ethereum will soon see 11% less supply. At the current price, that is over $25 billion invested in Ethereum.
ETH Trading Above $1,900 | Source: ETHUSD on TradingView.com
This isn’t the greatest dollar value for staked ETH, but it does help to see how much has already been staked.
Ethereum Bullish Sentiment grows
The bullish sentiment towards Ethereum has reached its highest level in years. Expectations are rising as the Merge nears. Investors have been accumulating tokens in anticipation of one of the biggest upgrades in crypto history.
Notable is the fact that digital assets have risen by double digits within the past week. The digital asset has risen above multiple resistance points and broke through $1,900. This is the result: more accumulation continues to push the price higher.
At the moment, $2,000 is the most significant resistance, which the bulls want. Breaking above that will send the digital asset rallying towards $2,500 with $2,250 being the main resistance.
Featured image taken from Coinmarketcap. Chart obtained from TradingView.com
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