Ethereum sees an increase in these metrics as Shanghai Upgrade nears

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 […]

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.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.

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.Thus, it was also possible to conclude that ETH was still in a bull trend during the same timeframe. The Relative Strength Index line indicated that ETH was still above 70 and in the overbought region.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum [ETH]: Bears gear up to draw curtains on recent price rallyETH saw its highest profit transaction ratio since October 2021. On-chain data suggested that a local top has been reached. Currently trading at its pre-FTX level, leading altcoin Ethereum [ETH] logged its highest profit transaction ratio since October 2021 on 16 January, data from Santiment revealed. 💸 Are crypto markets seeing a top? Traders are […]
Read more »

What’s next for Cronos [CRO] after ETH whales consider it worthy of…The top 100 Ethereum whales chose CRO as one of the top tokens to trade. CRO’s momentum stayed bullish but the volatility showed that the price might correct its trend. CRO, the native cryptocurrency of the Cronos [CRO] chain, found its way into the top 10 tokens traded by Ethereum [ETH] whales, Whale Stats revealed […]
Read more »

Curve Finance earns approval of ETH whales: Is a rally incoming?Curve Finance’s native token generated interest among whales The total value locked in the Curve protocol was more than Uniswap Curve Finance [CRV] became a hot commodity among large addresses as the market focus shifted to decentralized exchanges (DEXes) after the FTX debacle. According to a WhaleStats tweet on 17 January, CRV became the most traded […]
Read more »

Amidst Polygon’s hardfork and increased profit-taking, which way will MATIC go?Polygon completed its hard fork upgrade on 17 January. New demand for MATIC has climbed significantly since the year began. Polygon [MATIC], the sidechain connected to the main Ethereum [ETH] blockchain, completed a hard fork to its proof-of-stake (PoS) network on 17 January. The purpose of the hard fork, as stated in a 12 January […]
Read more »

Proposal to upgrade Victoria's aging public washrooms heads to council votePrimping up the City of Victoria's potties won't come cheap, as renovations are expected to cost upwards of $14 million.
Read more »

Cardano: Will this upcoming feature cement ADA as the ‘Ethereum killer’?Cardano’s new stablecoin Djed could prove to be a game changer. The development activity of Cardano increased since the start of 2023. Ethereum [ETH] could be in for tough competition in 2023 as Cardano [ADA] investors eagerly await the launch of Djed, the first algorithmic stablecoin on the network. The official Twitter handle of the […]
Read more »