ETH Staking Milestone: A Bullish Sign?
Hey #CryptoSquad ! I'm excited to share some bullish news with you all. According to @santimentfeed, the ETH2 Beacon Deposit Contract has hit an all-time high of 47.36 million ETH, accounting for a whopping 33.9% of the entire ETH supply!
This milestone is significant because it shows that more and more users are staking their ETH, making the network stronger against attacks. As Santiment points out, this growth in staked ETH has tripled since two years ago.
But what does this mean for the price? Well, according to my analysis, if the $2,850 level holds as support, we could see a relief rally above $3,200. However, if that level cracks, we might see a downward trend to $2,200.
What's Next for ETH?
With Blackrock's BUIDL fund operating on Ethereum and attracting new investors, the network is looking strong. And with staking reaching new heights, I think we could be in for some exciting times ahead.
Stay tuned for more market updates, and don't forget to follow me for the latest news and analysis!
