Ethereum: Here’s the caveat to look out for as ETH 2.0’s TVL reaches new ATH

ambcrypto.com:

Ethereum, the largest altcoin within the crypto market possesses one of the strongest enthusiasts/holders within this domain. Despite many headwinds, these holders have maintained an undeterred narrative regarding holding their coins. Just recently, on 4 May, nearly 2.56 million ETH had left centralized exchanges since January.

Can this trend continue to show amidst the growing concerns regarding interest rate hike?

ETH investors, traders or stakers have anticipated the upcoming ‘Merge‘ since last year. Capitalizing on this anticipation, the total value in the ETH 2.0 deposit contract just reached an ATH. The amount of Ethereum staked on the Beacon Chain reached another milestone despite asset prices tumbling at an alarming rate.

According to on-chain data from crypto analytics platform Glassnode, the total value in the ETH 2.0 deposit contract stood at an all-time high of 12,374,946 ETH. This also signified that over 10% of ETH’s supply has been sent into the Ethereum 2.0 deposit contract.