- Ethereum has just posted a new all-time high of $1,500
- At the same time, the value of ETH staked on ETH 2.0 hits $4.3 Billion
- February is a bullish month for Ethereum and this could be the beginning of more gains
Ethereum has just set a new all-time high of $1,500 – Binance rate. The move to this new territory comes after Ethereum broke an earlier identified ascending triangle that could propel the digital asset to further heights due to the following four events happening in the month of February.
- The launch of the CME Ethereum futures contracts on February 8th
- Grayscale’s Ethereum trust opening private placement of its shares to institutional investors
- Mike Novogratz’s Galaxy Digital planning to launch several Ethereum-focused funds as early as mid-February
- Consensys hosting a webinar this Thursday, February 4th, geared towards demystifying ETH 2.0 staking to institutional investors
Over $4.3 Billion Locked in the ETH 2.0 Deposit Contract
With respect to staking, earlier today, the Ethereum 2.0 deposit contract broke $4 Billion in terms of value locked. This milestone was first highlighted by the team at Glassnode via the following statement and chart.
#Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of $4,099,368,001.66 Previous ATH of $4,057,383,552.67 was observed on 29 January 2021.
Furthermore, according to DappRadar.com, a total of 2,907,234 ETH is currently locked in the Ethereum 2.0 deposit contract. This amount of Ethereum translates to $4.3 Billion in total value locked as seen in the following screenshot.
Ethereum Could Go as High as $1,800 – $2,000
At the time of writing, Ethereum is trading at $1,474 in what looks like consolidation in an attempt to flip the $1,500 price area into support. According to the team at Crypterium analytics, this price area is pivotal towards Ethereum reaching $1,800 and beyond. They explained:
If on the daily timeframe, the candlestick fixes above $1,400, then Ethereum will not only set a new ATH in the near future, but also soar well above $1,500.The nearest stop, in this case, may be the $1,800 — $2,000 range.
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.