• Ethereum [ETH] witnessed a price correction last week, resulting in investors suffering losses.
• The number of ETH locked has been on the rise for several months, indicating that investors’ confidence in ETH is high.
• The total value of ETH 2.0’s Deposit Contract recently reached an ATH, and exchange reserves are decreasing, suggesting that ETH may rebound above $1,800 again.
Ethereum Price Correction
Ethereum [ETH] experienced a price correction last week as its value decreased by 3%, causing investors to suffer losses. Additionally, the percentage of Ethereum addresses in profit hit a one-month low of 58.448%. The number of Ethereum addresses holding more than 1,000 ETH also reached a one-year low.
Investors‘ Confidence
Despite the decline in market prices, the number of ETH locked has been increasing steadily for several months – which indicates that investors remain confident in ETH’s long-term prospects and potential for future growth. This could be setting up the stage for another bull rally soon.
ETH 2.0 Growth
The total value of ETH 2.0’s Deposit Contract recently reached an all-time high (ATH) of 23,998,443 ETH – showing signs that there may be growing demand for this new technology among users and traders alike. As exchange reserves decrease with less supply on exchanges, buying pressure increases and it is possible that the amount of Ether locked will soon overtake the balance held on exchanges.
Price Movement
At press time, Ethereum was down by over 3.5% compared to last week at $1,750 with a market capitalization of $210 billion – indicating that it is still not under selling pressure from traders or investors despite recent price corrections and volatility in the market overall..
Conclusion
Overall it appears that despite recent bearish pressure in the cryptocurrency market as a whole – particularly amongst altcoins – Ethereum remains relatively stable and investor confidence remains high due to increased locking activity and continued development progress with ETH 2.0 technology advancements . This could be setting up Ethereum for another bull run soon as buying pressure increases due to declining supply on exchanges