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Ethereum (ETH) locked in the Ethereum 2 (ETH 2.0) smart contract hit a new all-time high as the price of Ethereum remains well below its ATH.
According to a report by Glassnode, the total value of the ETH 2.0 deposit contract has just reached 15,512,583 ETH.
📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of 15,512,583 ETH
View metric:https://t.co/SzbMPqvhlb pic.twitter.com/QeiQAYUpUy
— glassnode alerts (@glassnodealerts) December 3, 2022
After the FTX crisis, the cryptocurrency market remains filled with FUD (fear, uncertainty and doubt). As assets have fallen further, crypto investors are unsure whether to buy or sell. Ethereum has dropped almost 39% in a matter of weeks.
In one month, the price of ETH fell from $1661 to $1081. The price decline was seen by the whales as an opportunity to increase their holdings of ETH. Whale accumulations are often indicators of a bullish recovery in an asset.
A slight consolidation of the Bitcoin and Ethereum market leaders has created a sense of uncertainty in the crypto market, after the latest employment report, market participants will closely follow the comments and decisions of the Fed at meetings on December 13 and 14.
#Ethereum #deposit #contract #reaches #ATH