{"id":540556,"date":"2023-06-30T12:00:27","date_gmt":"2023-06-30T12:00:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=540556"},"modified":"2023-06-30T12:00:27","modified_gmt":"2023-06-30T12:00:27","slug":"ethereum-continues-uptrend-as-staked-eth-soars-to-new-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-continues-uptrend-as-staked-eth-soars-to-new-high\/","title":{"rendered":"Ethereum Continues Uptrend As Staked ETH Soars To New High"},"content":{"rendered":"

The Ethereum network is currently witnessing a surge in interest following the recent Shanghai upgrade, which has expanded the options for holders of Ethereum (ETH)<\/a>. This has resulted in an uptick in the number of people staking their ETH in beacon deposit contracts, an indication of the growing confidence in the Ethereum blockchain since the upgrade.<\/span><\/p>\n

Since the Shanghai upgrade, the quantity of staked ETH<\/a> has been increasing at a swift pace. This growth recently hit a peak, breaking previous records and suggesting that Ethereum’s transition to proof-of-stake (PoS) has been received positively by the market.<\/span><\/p>\n

New Era For Ethereum<\/span><\/h2>\n

The amount of Ethereum staked has now hit an all-time high (ATH), surpassing 25.8 million ETH, equivalent to a value of over $48 billion, according to the latest data<\/a> shared by blockchain and crypto industry analytics platform, CryptoRank.<\/span><\/p>\n

Related Reading: Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH<\/a><\/div>\n
\"Ethereum
Ethereum (ETH) deposit contract value hits ATH. | Source: CryptoRank<\/a><\/figcaption><\/figure>\n

This development has caused quite a stir in the crypto community and provides insight into the evolving dynamics of the Ethereum blockchain. Just a month earlier, in late May, the Ethereum deposit contract balance had crossed the $40 billion mark<\/a>. <\/span><\/p>\n

This upward movement underscores the effectiveness of the new features introduced during Ethereum\u2019s transition from the proof-of-work (PoW) to the PoS consensus mechanism after the Merge upgrade.<\/span><\/p>\n

Furthermore, the impact of the Shanghai upgrade on the Ethereum ecosystem has been profound. The surge in the Ethereum staking<\/a> ratio since the upgrade is indicative of growing interest and faith in the Ethereum blockchain’s potential.\u00a0<\/span><\/p>\n

This, in turn, reflects on the success of the Shanghai upgrade and the Merge in aligning ETH with market expectations and needs.<\/span><\/p>\n

While the influx of staked ETH steadily rises, Ethereum’s creator, Vitalik Buterin, has recently expressed concerns regarding the potential strain this could put on the network’s consensus. In a recent blog post,<\/a> he urged caution, stating, “Don\u2019t overload Ethereum\u2019s consensus.”<\/span><\/p>\n

Buterin went on to emphasize that utilizing Ethereum’s consensus for diverse functions could introduce elevated systemic threats to the ecosystem and should be actively discouraged. Despite this cautionary advice, there has been no decrease in ETH staking activity, only a consistent increase.<\/span><\/p>\n

Related Reading: LSD Tokens Rally As Ethereum Staking Ramps Up, Here Are The Leaders<\/a><\/div>\n

ETH Continous Upward Trend<\/h2>\n

Over the past 24 hours, ETH has seen a slightly bullish trend, up by 1.4%. The second-largest crypto asset<\/a> by market capitalization has surged from trading below $1,700 earlier this month to trading as high as $1,890, at the time of writing.<\/p>\n

\"Ethereum
Ethereum (ETH)\u2019s price is moving sideways on the 4-Hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Notably, the asset tapped and traded above $1,900 earlier today before slightly retracing to a 24-low of $1,843. Meanwhile, ETH has recorded more than $20 billion added to its market cap over the past two weeks. ETH trading volume has also surged over the same period indicating a rising trading activity.<\/p>\n

Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum network is currently witnessing a surge in interest following the recent Shanghai upgrade, which has expanded the options for holders of Ethereum (ETH). This has resulted in an uptick in the number of people staking their ETH in beacon deposit contracts, an indication of the growing confidence in the Ethereum blockchain since the upgrade. Since the Shanghai upgrade, the quantity of staked ETH has been increasing at a swift pace. This growth recently hit a peak, breaking previous records and suggesting that Ethereum’s transition to proof-of-stake (PoS) has been received positively by the market. New Era For Ethereum The amount of Ethereum staked has now hit an all-time high (ATH), surpassing 25.8 million ETH, equivalent to a value of over $48 billion, according to the latest data shared by blockchain and crypto industry analytics platform, CryptoRank. Related Reading: Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH This development has caused quite a stir in the crypto community and provides insight into the evolving dynamics of the Ethereum blockchain. Just a month earlier, in late May, the Ethereum deposit contract balance had crossed the $40 billion mark. This upward movement underscores the effectiveness of the new features introduced during Ethereum\u2019s transition from the proof-of-work (PoW) to the PoS consensus mechanism after the Merge upgrade. Furthermore, the impact of the Shanghai upgrade on the Ethereum ecosystem has been profound. The surge in the Ethereum staking ratio since the upgrade is indicative of growing interest and faith in the Ethereum blockchain’s potential.\u00a0 This, in turn, reflects on the success of the Shanghai upgrade and the Merge in aligning ETH with market expectations and needs. While the influx of staked ETH steadily rises, Ethereum’s creator, Vitalik Buterin, has recently expressed concerns regarding the potential strain this could put on the network’s consensus. In a recent blog post, he urged caution, stating, “Don\u2019t overload Ethereum\u2019s consensus.” Buterin went on to emphasize that utilizing Ethereum’s consensus for diverse functions could introduce elevated systemic threats to the ecosystem and should be actively discouraged. Despite this cautionary advice, there has been no decrease in ETH staking activity, only a consistent increase. Related Reading: LSD Tokens Rally As Ethereum Staking Ramps Up, Here Are The Leaders ETH Continous Upward Trend Over the past 24 hours, ETH has seen a slightly bullish trend, up by 1.4%. The second-largest crypto asset by market capitalization has surged from trading below $1,700 earlier this month to trading as high as $1,890, at the time of writing. Notably, the asset tapped and traded above $1,900 earlier today before slightly retracing to a 24-low of $1,843. Meanwhile, ETH has recorded more than $20 billion added to its market cap over the past two weeks. ETH trading volume has also surged over the same period indicating a rising trading activity. Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":517155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,8323,1946,78803],"class_list":["post-540556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Continues Uptrend As Staked ETH Soars To New High<\/title>\n<meta name=\"description\" content=\"The Ethereum network is currently witnessing a surge in interest following the recent Shanghai upgrade, which has significantly expanded...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Continues Uptrend As Staked ETH Soars To New High","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-continues-uptrend-as-staked-eth-soars-to-new-high\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-continues-uptrend-as-staked-eth-soars-to-new-high\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","eth","ethereum","ethusdt"],"dateCreated":"2023-06-30T12:00:27Z","datePublished":"2023-06-30T12:00:27Z","dateModified":"2023-06-30T12:00:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Continues Uptrend As Staked ETH Soars To New High\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-continues-uptrend-as-staked-eth-soars-to-new-high\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-continues-uptrend-as-staked-eth-soars-to-new-high\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?fit=2560%2C1655\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"eth\",\"ethereum\",\"ethusdt\"],\"dateCreated\":\"2023-06-30T12:00:27Z\",\"datePublished\":\"2023-06-30T12:00:27Z\",\"dateModified\":\"2023-06-30T12:00:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/540556"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=540556"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/540556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/517155"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=540556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=540556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=540556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}