ETH, Lido rally following update on Ethereum’s Merge as markets turn green

The major digital assets Bitcoin (BTC) and Ethereum (ETH) have turned green as their value has exceeded $ 22,000 and $ 1,400 in the last 24 hours.

according to data Over $ 300 million of short positions have been liquidated from Coinglass for a mini rally of these assets.

In the last 24 hours, Ethereum has liquidated $ 210 million in short positions and Bitcoin has liquidated $ 71 million.

Ethereum has been on the green run since the developers revealed that the long-awaited merge will take place on September 19th.

Ethereum prices have risen by more than 25% in the last seven days.

Glassnode data It was shown that the number of addresses holding 32 or more ETH reached a 16-month high.

# Ethereum $ ETH The number of addresses holding more than 100 coins reached a 15-month high of just 45,081

The highest value of 45,069 for the past 15 months was observed on July 13, 2022.

Display metrics:https://t.co/FbjiMG3uFX pic.twitter.com/iMufq6Nzcc

Glassnode alerts (@glassnodealerts) July 18, 2022

Also the number of wallets holding at least 100 ETH woke up According to Glassnode, the highest price in 15 months was 45,081.

Lido has risen by more than 170% in 7 days

Lido DAO tokens (LDOs) have risen by more than 170% in the last seven days due to growing interest in coins behind the Ethereum merge timeline.

Over the last 24 hours, LDO values have decreased by 3%. But it didn’t stop it from trading at the highest price of $ 1.82 in the last 30 days.

LDO transaction volumes have skyrocketed by more than 21% in the last 24 hours.

The coin trading chart shows that the Relative Strength Index (RSI) is above 70. This means that it is currently overbought. This indicates that you may be ready for a short-term withdrawal.

Lido’s Dominance With over 4 million units of ETH bet over the protocol, the percentage of Ethereum bet remains unwavering. This is one-third of the total ETH bet.

At the time of the press, the US dollar value of Ethereum bet via Lido is over $ 6 billion.

Summary

Positive growth in liquid staking on all networks.

ETH staking with Lido is below the industry average due to discounts on the stETH market.

Despite the turbulent DeFi era, the Lido ecosystem continues to grow.

Lido (@LidoFinance) July 15, 2022