Investors are giving bullish signs on Ethereum (ETH) as staking deposits reached a new all-time high, summing to a total value locked of over 27.40 million ETH on August 14, and the Ethereum Name Service (ENS) collected $235,000 in fees on a single day (August 13), the highest value since September 11, 2022.

Both record-breaking metrics show that Ethereum investors are willing to keep their money on the Ethereum Network for different reasons.

Data retrieved from Glassnode by Finbold shows a total of 27,407,435 ETH locked into the ETH 2.0 depositors contract. Investors stake these amounts so they can become the network’s validators, being rewarded for a yield of around 3.29% yearly, unable to sell the tokens short-term.

Ethereum Name Service domains exceed 2.6 million

As for the ENS data, the report made by the renowned crypto news reporter Colin Wu shows a record amount of daily fees paid by users to register a personalized human’s-readable Ethereum address, not seen in 11 months.

These addresses are exchanged as Ethereum domains, giving the complex blockchain addresses a unique domain that can be used to receive transactions made in the Ethereum blockchain.

More fees being paid to the service also means more demand for registering new addresses by users and investors of the leading layer-1 smart contracts blockchain in the cryptocurrency markets.

According to Colin Wu, the total number of active ENS domain names has exceeded 2.6 million.

Ethereum price analysis

ETH is trading at $1,845, by press time. With 0.15% losses in the last 24 hours, and gains of 0.84% in a 7-day timeframe.

Ethereum mostly kept a low volatility week, but the exchanged volume in the last 24 hours saw an increase of 90%, according to CoinMarketCap, with over $4.04 billion in ETH being exchanged in the spot market globally.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Ethereum analysis as staking and ENS metrics point to bullish trend appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.
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