• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

2023-03-28

Disney Metaverse Division Reportedly Scrapped

2023-03-28

CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

2023-03-28
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Disney Metaverse Division Reportedly Scrapped

    2023-03-28

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

    2023-03-28

    CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

    2023-03-28

    OKX becomes latest exchange to apply for Hong Kong VASP license

    2023-03-28

    Balaji Srinivasan Says Millions of Worried Depositors Could Wire Money to Bitcoin As Banks Get Too Big To Escape

    2023-03-28

    Binance CEO CZ reveals copy of letter to US Senators – weeks before CFTC lawsuit

    2023-03-28
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15
  • Market Cap
CryptoNewsMetaverse
Home»Altcoins»Ethereum sees an increase in these metrics as Shanghai Upgrade nears
Altcoins

Ethereum sees an increase in these metrics as Shanghai Upgrade nears

2023-01-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Ethereum validators hit over 500,000 as the network moved close to an upgrade.
  • The total value of ETH staked also increased to over 16 million.

As per a report published on 17 January by web3 platform Alchemy, the number of smart contracts deployed on the Ethereum [ETH] mainnet had increased by 293% in comparison to 2021, hitting numbers comparable to the year’s peaks.


Read Ethereum’s [ETH] Price Prediction 2023-24


Despite the FTX crash, there was an interesting increase in the number of smart contracts on the network. Alchemy claimed that in Q4 2022, there were 4.6 million smart contracts in use, an increase of 453% from the previous quarter.

In the same report, however, it was noted that the total amount of ETH assets traded on CEXs had decreased by 29% between the second and the third quarters.

Validators and staked ETH hit record-high

To prepare for the Shanghai upgrade in March 2023, the number of Ethereum validators surpassed 500,000, per data from BeaconScan. At the same time that the validator milestone has been reached, Ethereum’s core developers are planning to roll out the Shanghai upgrade.

Once this upgrade goes live, validators can cash out their staked ETH and any benefits they accrued due to their staking efforts. A maximum of 43,200 ETH per day can be withdrawn from the total amount of staked ETH. 

At the time of this writing, the total value of ETH that has been staked was over 16 million. The recent number, per Glassnode’s data, represented a new record. At the price of Ethereum at press time, the sum was worth over $25 billion.

Ethereum (ETH) staked

Source: Glassnode

Dev Activity resumes uptrend

Growth in validators and smart contracts on Ethereum has led to a surge in the platform’s Development Activity. As of this writing, developer contributions, as measured by Santiment’s Development Activity indicator, had risen to over 87. Present conditions reflected a discernible upward trend that began at the beginning of 2023.

Ethereum dev activity

Source: Santiment


Is your portfolio green? Check out the Ethereum Profit Calculator


ETH forms new support

On a six-hour timeframe, ETH was trading at about $1,584 at the time of this writing. Additionally, it was visible that the asset was attempting to establish a new support line at the current price range.

Ethereum (ETH) price

Source: Trading View

Thus, it was also possible to conclude that ETH was still in a bull trend during the same timeframe. The Relative Strength Index (RSI) line indicated that ETH was still above 70 and in the overbought region. The Directional Movement Index’s plus DI and signal line above 20 further supported the current bullish trend for ETH.

Source link

Ethereum Increase Metrics Nears Sees Shanghai Upgrade
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin and Ethereum Investors Are Not Flinching, US Pressure on Crypto Will Backfire: Chris Burniske

2023-03-26

Bitwise CIO sees ‘no path forward’ for spot Bitcoin ETF

2023-03-25

Ethereum co-founder praises Gary Gensler as ‘shining knight of decentralization’

2023-03-16

Here’s Why Ethereum Is Not a Security, According to Crypto Think Tank Coin Center

2023-03-12
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Coinbase Chief Legal Officer Says SEC’s Wells Notice a Massive Overreach on Part of Regulator

2023-03-26

South Korea sets $117.1 million budget to kickstart metaverse industry

2022-05-31

What Is Transaction ID and Where to Find It?

2022-03-21

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

2023-03-28

Disney Metaverse Division Reportedly Scrapped

2023-03-28

CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

2023-03-28
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,405.001.22%
  • ethereumEthereum(ETH)$1,780.943.79%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.12%
  • binancecoinBNB(BNB)$313.731.27%
  • usd-coinUSD Coin(USDC)$1.00-0.10%
  • rippleXRP(XRP)$0.539.89%
  • cardanoCardano(ADA)$0.3776159.32%
  • Lido Staked EtherLido Staked Ether(STETH)$1,777.096.19%
  • dogecoinDogecoin(DOGE)$0.0743082.17%