The amount of Ethereum heaped into ETH 2.0 contracts has reached 6,467,650 ETH, valued at approximately $15.9 billion.
With the completion of the major update of Ethereum 2.0, traders are increasingly interested in distributing Ethereum.
For many cryptocurrency exchanges to start offering Ethereum allotment services in light of the increasing demand, the Bitstamp trading platform has also started offering Ethereum allotment services.
Commented Mr. “Julian Sauer” CEO “Bitstamp” that hesurprised bygreat interest of traders Pthsas Alaithiriom, said:
We were amazed, if that is the correct term, in terms of the amount of requests that came in.
The volume of Ethereum in trading platforms has been constantly declining, reaching a record level in 3 years.
The second largest cryptocurrency is currently trading at $2,600, up 27.7% since last week.
The price of Ethereum has recovered along with Bitcoin, after the price of the second largest cryptocurrency fell below $2000 for the majority of the past two months.
The current price hike of Ethereum is also attributed to the “EIP-1559” update scheduled to launch in the first week of August.
Ethereum holders get 50% of their holdings:
Sawyer revealed that the demand for “staking” is very high and that traders are not only allocating a small part of their holdings in staking, but the percentage has reached 50% of it.
This tells us a lot.
People are more aware about quotas, as they participate in the product range and interest rate.
Institutions are quite optimistic about Ethereum.
The likes of JPMorgan and Goldman Sachs claim that Ethereum can eventually turn into a store of value.
JPMorgan also predicted that the Ethereum market could turn into a $40 billion industry.
The major upgrade of Ethereum whose network will move from mining and Proof of Work to stakeout is described as the largest blockchain upgrade in the history of Ethereum since its inception.
Vitalik Buterin, the founder of Ethereum, stated that the current network has served its purpose and in the near future, it will migrate to Ethereum 2.0.