Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge

The Ethereum deposit staking contract has seen increased interest since developers announced that the Merge is likely to happen next month in September. This move to proof of stake will see miners be flushed out in favor of validators who earn rewards for staking their ETH, and more investors want to take advantage of this. This has seen Ethereum hit new milestones, while the most recent one has to do with the amount of ETH staked. Staked ETH Crosses 13.3 Million Staked ETH on the Ethereum network has now reached a new milestone of 13.3 million. This number has been a long time in the making and has recorded tremendous growth since the announcement about a month ago. The contract now sits at a whopping 13.308 million ETH now staked, rising with each passing day. Related Reading: Ethereum Price Forecast Remains Bullish As Network Nears Another Milestone The total number of ETH now staked accounts for about 11% of the total supply. This means that 11% of Ethereum’s available supply has been rendered unmovable for the foreseeable future. As expected, this has had a big impact on the price since scarcity equals higher value. Ethereum had been able to cross $2,000 for the first time in more than 2 months. The anticipation around the Merge has turned into a ‘buy the news’ event. More people are moving into the digital asset, given the promises held by Ethereum during this time. Add in the fact that withdrawals are not expected to co...