Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

Despite changes successful the asset’s price, Ethereum is steadily adding to the ETH 2.0 staking contract.

According to the improvement team, this occurs astir a period earlier the Merge is scheduled to occur.

Ethereum Staked Token Hit New ATH

According to Dune Analytics data, much implicit 13.2 cardinal ETH person been deposited to the staking contract, nevertheless determination are lone astir 80,000 unsocial depositors.

ETH Staked connected ETH 2.0 Contract. Source: Delphi Digital

The graph supra shows however ETH’s magnitude locked successful the staking declaration has gradually accrued and reached a caller all-time precocious successful presumption of ether.

A acold outcry from the highest reached past year, erstwhile ETH was adjacent to $5,000, the USD worth had soared to conscionable shy of $24 billion.

The singular results travel arsenic the Ethereum improvement squad continues to supply updates connected the advancement of the power from PoW to PoS.

The astir anticipated lawsuit successful the bitcoin assemblage this twelvemonth is referred to arsenic the Merge.

Among different advantages, it should marque Ethereum little energy-intensive and summation the network’s durability.

Numerous well-known crypto insiders foretell that it volition importantly impact the terms of ETH. According to caller claims made by Arthur Hayes, it mightiness summation the asset’s USD valuation successful a mode comparable to BTC’s halving.

On the different hand, Mark Cuban cautioned that the Merge mightiness initially beryllium a “sell-the-news” lawsuit but thinks it’s a bully determination overall.

Price Have Began To Slide

According to the play displacement successful the Ether-Bitcoin transverse rate, Christophe Barraud, main economist, strategist, and apical forecaster astatine Bloomberg, Ethereum is poised to suffer crushed against Bitcoin for the archetypal clip successful 7 weeks.

ETH/USD trades astatine $1,800. Source: TradingView

After the Consumer Price Index (CPI) oregon ostentation information study came successful amended than expected, Ethereum has outperformed Bitcoin successful betterment contempt the diminution comparative to BTC arsenic some stay highly correlated with the S&P 500 stocks, according to a study published connected August 17 by the on-chain societal metrics level Santiment.

Featured representation from Pixabay, Chart from TradingView.com, Delphi Digital