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Benzinga
Benzinga
Business
Adrian Zmudzinski

Bullish: Ethereum On-Chain Fundamentals Paint A Positive Outlook For The Future

Ethereum Crypto Bitcoin Glassnode

Things may be looking up for Ethereum (CRYPTO: ETH) with numerous on-chain data parameters painting a bullish picture for the coin.

What Happened: Data shared by blockchain analytics firm Glassnode shows that today Ethereum blockchain's seven-day average block size reached a new all-time high, indicating a high level of activity on the network. Furthermore, the total value stored in the Ethereum 2.0 deposit contract also just reached a new all-time high of 12,777,045 ETH — for a current total value of $2,242,4226,018, showing a significant level of trust in the protocol despite the mechanic being one-way.

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