ETH 2.0 deposit contract crosses the 13M mark ft. a bullish ETH twist

Ethereum‘s much-anticipated Merge continues to see bullish developments over the ETH 2.0 deposit contract. However, unlike on previous occasions, the main ‘OG’ token too has been creating a sense of belonging. Here’s the latest record sheet – Higher highs Ethereum 2.0 is an upgrade to the Ethereum network that focuses on improving the speed, efficiency, […]

From that top to when ETH/USD hit lows of $2,000 in mid-May this year, ETH 2.0 deposits rose from around 8M to 13M+ at press time. The deposit contract on the Beacon Chain, launched in November 2020, allows ETH holders to lock their assets ahead of the switch.

The number of active Ethereum addresses spiked up to a new high on CryptoQuant, when compared to its past. The chart below underlines ETH active addresses’ patterns over the last few years.Moving on to the demand aspect, the burning mechanism remains a proof to support this development. As of today, EIP1559 has been implemented for one year, and more than 2.57m ETHs

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