Ethereum analysis as staking and ENS metrics point to bullish trend

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 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.

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