that has been staked was over 16 million. The recent number, per Glassnode’s data, represented a new record. At the price of Ethereum at press time, the sum was worth over $25 billion.Growth in validators and smart contracts on Ethereum has led to a surge in the platform’s Development Activity. As of this writing, developer contributions, as measured by Santiment’s Development Activity indicator, had risen to over 87.
On a six-hour timeframe, ETH was trading at about $1,584 at the time of this writing. Additionally, it was visible that the asset was attempting to establish a new support line at the current price range.Thus, it was also possible to conclude that ETH was still in a bull trend during the same timeframe. The Relative Strength Index line indicated that ETH was still above 70 and in the overbought region.
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