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Ethereum Breaks Records: 35M ETH Staked, 22.8M Held Long-Term
- Ethereum has achieved a significant milestone with over 35 million ETH worth nearly $89 billion locked in staking contracts, a new all-time high.
- Additionally, a record 22.8 million ETH is held by long-term holders who show strong conviction in Ethereum's future despite recent market volatility.
- Whales have been accumulating Ethereum, with addresses holding between 1,000 and 10,000 ETH acquiring over 800,000 units daily for nearly a week.
- This accumulation by whales, totaling over 16 million ETH, is reminiscent of trends seen during the 2017 bull run, with a market value exceeding $40 billion.
- A more favorable U.S. regulatory environment, clarified by the SEC regarding certain staking activities not needing Securities Act registration, has fueled the staking surge.
- Despite regulatory clarity, Ethereum's price has faced pressure, currently trading at around $2,534, down almost 2% in the last 24 hours and 9.3% lower over the past week.
- ETH has, however, shown a 6.5% increase in the last 30 days, although it remains 26.5% down year-on-year.
- Technical analysts anticipate a golden cross on the daily chart, where the 50-day EMA crosses above the 200-day EMA, potentially signaling a bullish trend.
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