The amount of ethereum locked has just reached 19,375,242 ETH, setting a new all-time high for the cryptocurrency. Total Value Locked (TVL) currently stands at $27.7 billion.
This milestone comes after what can be considered a “bath for ants” after recent recalls. This achievement has essential implications for ethereum and its investors, especially regarding the possibility of the cryptocurrency continuing its rapid expansion.
Ether that has been locked can be divided into several categories, including ether that has been staked on the beacon chain, ether that has been transferred to the beacon contract but is not yet being validated, and ether that has been rewarded on Beacon chain.
These categories, when taken together, indicate the amount of ETH that is “out of circulation”, reducing the total amount of ETH accessible, possibly increasing both demand and price.
As more investors put their ethereum (ETH) on the Beacon Chain, it demonstrates their confidence in Ethereum’s ability to survive in the long term and its potential for expansion. This trend could help Ethereum establish itself as the dominant platform for smart contracts and cryptocurrencies.
When viewed from a broader perspective of the Ethereum ecosystem, the recent withdrawals appear to be relatively small movements. Despite some very insignificant changes, the amount of ETH locked has continued to rise, suggesting that the overall health of the cryptocurrency is still in good shape. Analyzing market swings should serve as a helpful reminder to investors about the importance of taking a long-term view.
The total amount of ETH locked will continue to increase as Ethereum 2.0 develops further and the shift to a Proof-of-Stake (PoS) paradigm takes more firmly entrenchment.
Ethereum price today
Ethereum is facing a lot of resistance at the $1,900 levels as the asset posted a loss of close to 15 in 24 hours. Trading at $1,847 at time of writing, the cryptocurrency has gained 0.17% in price, with trading volume up 2.85%, according to data from CoinMarketCap.
Ethereum volatility levels are rising as the Bollinger Bands strategy, used to estimate volatility levels, moves away from each other. The RSI, now trading below its average line, indicates a downtrend as it approaches the oversold region.
