Ethereum 2.0 Deposit Contract Now Holds 4M ETH Worth $10.8 B
Ethereum financiers are constantly sending out funds to the ETH 2.0 deposit agreement practically 6 months after the upgrade was initiated. At the time of writing, the Ethereum 2.0 deposit agreement holds 4.0412 million ETH valued at $10.8 Billion using ETH's current worth at $2,700.
Linking the dots, such a high amount of deposits to the Ethereum 2.0 agreement, while the upgrade is still in advancement, is a clear sign that long-lasting ETH financiers are bullish on the worth of the digital property and what the future holds for the blockchain.
4 million ETH is 3.5% of Ethereum's flowing supply of 115.665 million. Any Ethereum sent to the ETH 2.0 contract lowers readily available ETH for other traders and financiers including organizations.
At the time of writing, Ethereum is consolidating at the $2,700 price area in anticipation of what looks like a relocation towards the $3k price ceiling. Ethereum still has 2 more hurdles this month in the kind of ETH futures and options expiring tomorrow, Friday, April 30th, as well as the regular monthly close on the very same date.
Approximately $930 million in Ethereum options expire tomorrow in the next 48 hours. Of this quantity, $430 million in ETH choices will end on Deribit with an open interest of $4 Billion.
Such a high amount of Ethereum choices expiring, coupled with the monthly close tomorrow, makes certain to add selling pressure on Ethereum, triggering a possible retest of $2,500. On the bright side, as soon as April is over, the month of May supplies Ethereum with a new environment to thrive.