Ethereum (ETH) climbed above the $2,700 threshold for the first time in about two weeks, recording a 7.17% surge over the last 24 hours, reaching an intraday peak of $2,724 before momentarily dipping to $2,666.16 at the time of reporting.
Based on CoinMarketCap’s data, it appears that the price increase occurred at the same time as a significant 84.23% rise in trading activity and the maximum ever recorded amount of staked Ether.
Ethereum staking soars: 34.8m eth locked in
Based on information from Beaconcha.in and Dune Analytics, the cumulative Ethereum (ETH) staked on the Beacon Chain has significantly increased, reaching approximately 34.8 million ETH. This amount exceeds the previous record, which was set in November of 2024.
This significant action indicates that long-term investors are heavily investing in Ethereum, with the staked Ether representing approximately 28.7% of the current total supply (which is 120.8 million).
Over the past year, the amount of Ethereum being staked has consistently stayed above 33 million ETH. However, it started increasing once more in early June. This surge is believed to be due to an expanding interest in earning returns through staking instead of quick resale.
Remarkably, even though the network resumed issuing cryptocurrency through inflation in February, it hasn’t discouraged participants in the crypto market.
Wall street turns its gaze to ethereum
On Monday, a research study by Wall Street broker Bernstein highlighted Ethereum’s distinctive function as a “decentralized computing platform,” which is instrumental in supporting applications such as stablecoins and tokenized assets.
Experts headed by Gautam Chhugani emphasized the prominence of Ethereum in these specific areas, referring to it as “valuable technology that merits appreciation.
The report observed that the practical use of Ethereum is leading to growing financial attention, and it went on to say that businesses utilizing stablecoins are significantly boosting Ethereum’s transaction fees.
Price outlook: rsi, fib targets, and market sentiment
According to the provided daily graph, the Relative Strength Index (RSI) is inching towards the overbought region, but it hasn’t yet surpassed the 70 threshold. At present, it’s hovering around 60, suggesting a robust bullish trend with potential for further growth.
The Balance of Power indicates that bears currently have less influence, as a significant change in investor optimism has emerged after a period of market stabilization during the last week.
ETH Daily Chart with BoP and RSI | Source: TradingView
Additionally, Fibonacci levels (based on the latest high-to-low swing) suggest that Ether is currently approaching the 0.382 Fib level at approximately $2,702. A potential breakout above the 0.5 Fib level ($2,818) might pave the way for further price increases.
As a crypto investor, if Ethereum (ETH) successfully ends the day trading above $2,818, it could signify the continuation of this bullish momentum. In the near and medium-term outlook, this might propel ETH towards the price range of $3,000 to $3,300.
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2025-06-10 15:54