Ethereum’s latest update could get ETH holders excited for 2023 because…
January 16, 2023
By Suzuki Shillsalot
How many are 1,10,100 ETHs worth today?
The total value of ETH staked and validators on the network witnessed substantial growth
Whales show interest in ETH as the number of transactions witnessed a surge
Ethereum’s [ETH] staking activity continued its upward swing as the total value staked in ETH 2.0. deposit contract reached yet another ATH, data from Glassnode revealed.
A drill down of the chart further indicated that this value saw a substantial increase since 6 January. This was when developers announced that the Shanghai Upgrade, which will enable the withdrawal of staked ETH, will go live in March 2023.
Notwithstanding the 1.3% drop observed in ETH’s price at the time of writing, the king of altcoins made a remarkable recovery since the FTX contagion hit the crypto market. The bullish cycle also witnessed ETH sprint towards its pre-FTX market cap levels.
Staking gets hot
The number of validators on ETH network steadily increased by 0.61% over the seven-day period, per data from Staking Rewards. The revenue from transaction fees also shot up by almost 24% which lent credence to the lucrativeness of ETH staking.
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