Ethereum (ETH) continues to showcase strong performance, achieving a new record of 35 million ETH locked in staking addresses. This milestone reflects growing investor confidence in the future of the Ethereum network.
Ethereum Staking Volume Milestone
According to data from analytics platform CryptoQuant, Ethereum has surpassed a milestone of 35 million ETH locked in staking addresses. This indicates increasing investor confidence and the long-term stability of the Ethereum network.
Staking involves locking up ETH to help secure the network, allowing users who stake to earn rewards. With over 500,000 ETH staked in June alone, this rise demonstrates that holders are betting on the future of Ethereum.
Rise in Ethereum Accumulation Addresses
In addition to staking, there has been a surge in accumulation addresses for Ethereum. Data shows that accumulation wallet addresses have reached a new all-time high, collectively holding 22.8 million ETH.
This indicates that holders continue to acquire ETH and hold it regardless of price fluctuations, showcasing the confidence of strong holders in the asset, and signaling Ethereum's maturation as an investment tool.
Ethereum Price Target of $3,000 Ahead?
At the time of writing, the price of Ethereum stands at $2,548.31, reflecting a 2.68% decrease over the past 24 hours. Although ETH previously broke above the $2,600 level, market volatility prevented further upward movement.
Nevertheless, trading activity surged by 22.24%, reaching $24.46 billion. Analysts suggest that if ETH breaks above $2,900, it could lead to further price growth towards $3,600 or higher in the coming weeks.
The achievement of new highs in staking and accumulation underscores growing trust in Ethereum. Investors are actively retaining their assets, which may support a future price rally that could lead to a target of $3,000.
