Ethereum Continues Uptrend As Staked ETH Soars
The Ethereum network is witnessing a surge in interest following the recent Shanghai upgrade, which has expanded the options for holders of Ethereum (ETH). This has resulted in an uptick in the number of people staking their ETH in beacon deposit contracts, an indication of the growing confidence in the Ethereum blockchain since the upgrade.
Since the Shanghai upgrade, the quantity of staked ETH has been increasing at a swift pace. This growth recently hit a peak, breaking previous records and suggesting that Ethereum’s transition to proof-of-stake (PoS) has been received positively by the market.
The amount of Ethereum staked has now hit an all-time high (ATH), surpassing 25.8 million ETH, equivalent to a value of over $48 billion, according to the latest data shared by blockchain and crypto industry analytics platform, CryptoRank.
(With inputs from Shikha Singh)
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