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As the price of ETH breaks through a new high, Ethereum 2.0 becomes the third largest mortgage network

The rise in the price of Ethereum (ETH) made it hit a record high, which also promoted the Ethereum 2.0 contract to become the third-largest mortgage network. Despite the fact, only 2.55% of ETH supply is currently locked in Ethereum 2.0.

On February 2, ETH hit a record high of $1,480. ETH rose 12% in 24 hours, reaching a maximum of $1,560.

ETH/BTC since January 2017, 1st chart: TradingView

There is currently more than 2.9 million ETH locked up, and the total mortgage capital in Ethereum 2.0 exceeds US$4.5 billion. Rising ETH prices pushed the Ethereum 2.0 contract to surpass Avalanche’s $3.4 billion collateralized assets.

Polkadot is currently the largest locked-up crypto asset, with 60% of its supply locked in 10.8 billion U.S. dollars, followed by Cardano, with 71% of its supply of mortgages close to 9.5 billion U.S. dollars.

Since the launch of the beacon chain in early December last year, the deposit of Ethereum 2.0 has been growing steadily. In January, approximately 1 million ETH were locked, and the total number of Ethereum 2.0 validators increased from 49 200 to 76 200, an increase of 55%.

Since the beginning of this year, ETH/BTC has risen by 70%. At present, ETH/BTC is less than 5% from its January 25 high of 0.045 BTC. 0.045 BTC is also the highest level of ETH/BTC since August 2018.

ETH/BTC since January 2017, 1st chart: TradingView

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