150,000 Ethereum Deposited In ETH Contract Following Merge Despite Bad Price Performance

Ethereum investors remain long-term bullish.

In a tweet today, market analyst Ali Martinez revealed that investors had added about 150,000 ETH to the Ethereum staking contract in the week following The Merge, taking the total ETH staked to a new all-time high of 13.9 million.

#Ethereum | Roughly 150,000 $ETH, worth around $195 million, have been transferred to the #ETH2 deposit contract over the past week, hitting a new all-time high of 13.9 million #ETH staked. pic.twitter.com/p9oDsgod6s

— Ali (@ali_charts) September 23, 2022

It represents an increase of about 400 million ETH from September 5, when The Crypto Basic reported that about 13.5 million ETH had been locked in the contract. The move indicates that investors remain bullish on the asset despite poor price performances following the upgrade and uncertainty about when staked ETH will be unlocked for withdrawals.

On Wednesday, The Crypto Basic reported that there had been a significant decline in whale holdings following The Merge, confirming that large investors took advantage of the upgrade to take profits from the market.

Ethereum is currently trading at the $1,318.38 price point, 1.74% higher in the last 24 hours. Martinez had previously predicted that the asset price would be heading toward the $1k price point in the short term.

#Ethereum | You don’t want $ETH to dip below $1,460 because it could trigger a sell-off that sends it to $1,000. #ETH pic.twitter.com/sCoqWE90Nz

— Ali (@ali_charts) September 15, 2022

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