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Locked Ethereum Surges to Record High; Binance’s CZ Expresses Bullish Sentiment

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Locked Ethereum Surges to Record High; Binance's CZ Expresses Bullish Sentiment

  • Nansen shares interesting data about Ethereum.
  • The ETH locked hit an all-time high of 19,375,242 ETH.
  • Binance CEO CZ tweeted about this, conveying his thoughts.

The latest data from Nansen revealed some interesting numbers regarding locked Ethereum. According to the blockchain data and research platform, ETH locked hit an all-time high, touching 19,375,242 ETH.

The data caught the attention of Binance CEO Changpeng Zhao, who recently took to his Twitter account to comment on it.

Locked ETH at ATH. You know what follows? https://t.co/3xS8OoCfT9

— CZ 🔶 Binance (@cz_binance) May 11, 2023

Binance CEO believes it’s bullish for Ethereum

Binance CEO stated his belief by tweeting, “Locked ETH at ATH. You know what follows?” CZ believes this to be bullish as this ETH is out of circulation, which is definitely good for Ethereum. The ETH that is locked includes the ETH that is staked in the beacon chain, ETH deposited to the beacon contract but not validated yet, and rewards on the beacon chain.

However, this hasn’t affected the price of Ethereum in a positive way. According to CoinMarketCap data, ETH is trading at $1,802 at press time, with a 3.6% drop in value over the last 24 hours. However, after the Shapella upgrade, the price of Ethereum shot up above $2,000, before falling to its current price.

Year-to-date data reveals that ETH is up by 50% as 2023 begins on a positive note. Nevertheless, ETH still has a long way to go before it reaches its previous all-time high.

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