ETH Locked in Ethereum 2.0 Contract Hits 6.7 Million ETH Peak, Here’s What It Means

ETH Locked in Ethereum 2.0 Contract Hits 6.7 Million ETH Peak, Here’s What It Means

According to the data provided by the Glassnode analytics company, validators keep depositing their Ethers into the Ethereum 2.0 contract.

This time, the amount of the total ETH locked there has come close to 7 million ETH and reached a new all-time high.

Besides, ETH balances on centralized crypto exchanges keep declining and the number ETH non-zero addresses has reached a new historic peak.

Glassnode metrics show several Ethereum-related ATHs

As per a chart shared by the Glassnode team, the total value of ETH locked in the Ethereum 2.0 deposit contract has totalled 6,727,938 ETH – that is $22,051,355,030.

Validators keep moving Ethereum to the ETH 2.0 contract and almost 9 percent of the total Ethereum supply has now been deposited there.

📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of 6,727,938 ETHView metric:https://t.co/SzbMPqvhlb pic.twitter.com/YXWA0PHKII— glassnode alerts (@glassnodealerts) August 15, 2021

ETH balances on exchanges keep dropping

Glassnode has also shared that Ethereum balances on digital exchanges are in decline as users are much less active in sending their ETH to those platforms.

According to a chart from the analytics service, ETH exchange deposits have hit a 7-month low, totalling 701.595. A previous drop to the lowest level in 7 months was seen back on August 6.

Besides, new users continue to join the Ethereum ecosystem and set up wallets as the number of non-zero ETH addresses has reached 1 month high of 59,753,415.

Ethereum is inching closer to $3,300

After breaching the $3,000 level last Saturday, the second largest cryptocurrency remains above this price mark and is striving to break above $3,300 once again as it had done on August 14 and 16 but then rolled back.

At the time of writing, Ethereum is going at $3,283, according to the data provided by CoinMarketCap.

Source