Ether (ETH), the second largest cryptocurrency by market capitalization, has been turning the interest in Bitcoin towards itself lately. Ether is the native currency on the Ethereum network, an open-source platform founded in 2013 by Russian-Canadian programmer Vitalik Buterin and several other crypto entrepreneurs. Besides the fact that crypto enthusiasts can buy and sell Ethereum as an investment similar to Bitcoin, what makes Ethereum unique is that it is also a platform where developers can create new applications.

Many Ethereum investors have their eyes focused on Ethereum 2.0. Ethereum 2.0, which is planned to make Ethereum more scalable and secure, proves its confidence with the stakes made. So much so that about 33 billion dollars of Ethereum (ETH) is locked in the Ethereum 2.0 contract.

Nearly $33 Billion ETH Locked In Ethereum 2.0

According to the data obtained by Etherscan; The amount locked to Ethereum 2.0 has reached an all-time high of 12.4 million ETH, exceeding 33.7 billion dollars as of the writing of our news.

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The overall transaction fee on the ETH network has decreased significantly over the past few weeks. Despite the price drop, the total number of transactions on the Ethereum network has increased recently. Sanitment, an on-chain analytics platform, noted that the ETH network witnessed a jump in transfer activity on Friday.

Also, Ethereum currently has a market cap of around $320 billion, compared to its all-time high of more than $500 billion in November 2021.

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Latest Status of Ethereum (ETH) in Crypto Market

Finally, let's take a look at the current state of Ethereum (ETH). Ethereum (ETH) According to Coingecko data at the time of writing the news; It is trading at $2,690.83. The last 24-hour trading volume of Ethereum (ETH) was $16.832.007.140. ETH price is down -1.0% in the last 24 hours.