Friday, September 30, 2022
HomeCrypto NewsMarket150,000 Ethereum Deposited In ETH Contract Following Merge Despite Bad Price Performance

150,000 Ethereum Deposited In ETH Contract Following Merge Despite Bad Price Performance

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Ethereum investors remain long-term bullish.



In a tweet today, market analyst Ali Martinez revealed that investors had added about 150,000 ETH to the Ethereum staking contract in the week following The Merge, taking the total ETH staked to a new all-time high of 13.9 million.

 

It represents an increase of about 400 million ETH from September 5, when The Crypto Basic reported that about 13.5 million ETH had been locked in the contract. The move indicates that investors remain bullish on the asset despite poor price performances following the upgrade and uncertainty about when staked ETH will be unlocked for withdrawals.

On Wednesday, The Crypto Basic reported that there had been a significant decline in whale holdings following The Merge, confirming that large investors took advantage of the upgrade to take profits from the market.

Ethereum is currently trading at the $1,318.38 price point, 1.74% higher in the last 24 hours. Martinez had previously predicted that the asset price would be heading toward the $1k price point in the short term.

 

 

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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