Zhao’s ETH Share is a Rally Signal?

An Ethereum share came from Binance CEO CZ, who shared against the FUD news in the crypto money industry. Citing the post where Nansen stated that the number of locked ETH on the Beacon chain has risen to an all-time high, Changpeng Zhao made a good comment for investors and ETH price.

According to data shared by cryptocurrency analytics platform Nansen, the amount of Ethereum tokens locked as of May 9 has exceeded 19 million ETH, reaching ATH. Implying that the record-breaking number of locked ETH could potentially support the Ethereum price, Changpeng Zhao made the following statements in his post:

Although Changpeng Zhao did not say anything clearly about the ETH price expectation, this post of Changpeng Zhao was interpreted as a possible pointer to the Ethereum price. Because there is a positive connection between Ethereum price and the number of locked ETH. ETH price increases as the number of locked ETH increases. Because as the number of locked Ethereum increases, the number of ETH in circulation decreases, which positively affects the price. Continuing its rise since the beginning of 2023 to $ 2,140 on April 16, Ethereum continues to be traded at $ 1,806 at the time of writing, with the declines it experienced.