Friday, February 26, 2021

Ethereum (ETH) Attains New All-Time High as It Extends Its Impressive Rally

Ethereum (ETH), the second-largest cryptocurrency by market cap, has recorded new price all-time high of $1,487.

According to Binance exchange, this price milestone was recorded at 4:32 PM (UTC).

Read Also: Bullish: Ethereum (ETH) Exchange Supply Ratio Hits Lowest Since 2018

Ethereum (ETH) Attains New All-Time High as It Extends Its Impressive Rally

At the time of filing this report, ETH is trading at $1,465.26, with about a 12% price uptrend in the last 24 hours. The digital currency is currently standing at $168 billion in terms of market capitalization.

Number of ETH Staked In Ethereum 2.0 Deposit Contract Nears $4.1 Billion

According to Glassnode, the number of ETH stakers in the Etheruem 2.0 deposit contract continues to increase, about to hit $4.1 billion.

Going by the data provided by the crypto analytics firm, the total amount of ETH deposited in the contract is currently $4,099,368,001.66.

Read Also: Galaxy Digital’s Mike Novogratz Targets $2,600 As Ethereum (ETH) Hits New Price ATH

Glassnode tweeted, “Ethereum ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of $4,099,368,001.66 Previous ATH of $4,057,383,552.67 was observed on 29 January 2021.”

This implies that the amount of ETH locked is 2,865,227.85 at the rate of $1,424 per coin, the price of ETH when Glassnode reported the development.

Locking ETH was necessary to start phase zero of the ETH 2.0 upgrade that has been expected by the community for several years.

Read Also: Famous Rapper Soulja Boy Receives His Personal Ethereum (ETH) Address: soujaboy.eth

It is expected to greatly increase the number of transactions per second, solve other scalability issues and transfer Ethereum blockchain from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

Now stakers have continued to send their ETH to be locked in the deposit contract and the price of the digital currency has not relented in the market.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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