Locked Ethereum Reaches All-Time High; Binance CEO Shares Optimistic Outlook

• Nansen provides intriguing insights about Ethereum.
• The amount of ETH locked reached a record high of 19,375,242 ETH.
• Binance CEO CZ shared his thoughts on this via Twitter.

The most recent figures from Nansen have unveiled notable statistics concerning locked Ethereum. As reported by the blockchain data and research platform, the total ETH locked has achieved an unprecedented peak of 19,375,242 ETH.

This information attracted the attention of Binance CEO Changpeng Zhao, who recently expressed his views on Twitter.

Locked ETH at ATH. You know what follows? https://t.co/3xS8OoCfT9

— CZ Binance (@cz_binance) May 11, 2023

Binance CEO considers it bullish for Ethereum

Binance CEO conveyed his perspective by tweeting, “Locked ETH at ATH. You know what follows?” CZ perceives this as a bullish indicator since this ETH is removed from circulation, which is certainly beneficial for Ethereum. The locked ETH encompasses the ETH that is staked in the beacon chain, ETH submitted to the beacon contract but not yet validated, along with rewards on the beacon chain.

Nonetheless, this has not positively influenced the price of Ethereum. As per CoinMarketCap data, ETH is currently trading at $1,802, reflecting a 3.6% decrease in value over the past 24 hours. However, following the Shapella upgrade, the price of Ethereum surged above $2,000 before declining to its present value.

Year-to-date statistics indicate that ETH has increased by 50% as 2023 commenced on a favorable note. Still, ETH has a considerable distance to cover before it attains its previous all-time high.