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ETH 2.0: Ethereum Burnout Sets New Record High and Affects Price

ETH 2.0: Ethereum Burnout Sets New Record High and Affects Price

a Ethereum (ETH) has re-established itself above $3,000 as the number of burnt and hoarded coins continues to rise.

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The price of Ethereum has increased significantly over the past 30 days. The value of the cryptocurrency reached nearly 75% between July 22 and last Saturday (21), as it jumped from $1,800 to $3,265.

ETH chart on TradingView

ETH burning exceeded 73000

The last increase may have originally been related to Hard Fork London, causing daily burns of cryptocurrency units. Since the update, Ethereum burned a total 73,569 ETH, valued at $240 million. In the past week alone, 27,551 ETH has been burned.

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Source: EthBurned

Staking keeps increasing

Asset storage is also increasing, with nearly 200,000 units added recently added. The total amount under bet is now 7,092,551 ETH, which is equivalent to $23.5 billion. The total number of validators in the network has also increased. The platform has seen an increase of 5,495 new users since last week. Currently, the total number of validators is 214,490. The current Annual Percentage Rate (APR) for betting on the platform is 5.9%.

Ethereum is getting rarer in exchanges

Ethereum is becoming increasingly scarce as the number of cryptocurrency units on exchanges continues to decline. the glass I mentioned recently That “ETH balances on exchanges have now fallen to an all-time low of 13% of current supply this week, equivalent to 15.3 million ETH.”

Vanic recently introduced Another ETF application with the US Securities and Exchange Commission (SEC). The ETF will be based on futures cryptocurrency, called Ethereum Strategy ETF.

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