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95% of Ethereum is ready for staking as accumulation trend gains momentum

The hype surrounding Ethereum has reached a boiling point in recent times, with growing network utilization and enthusiasm surrounding DeFi providing investors with legitimate reasons to be excited about the cryptocurrency’s future.

The imminent transition to ETH 2.0 is also widely looked upon by investors as a potential catalyst for further upwards momentum in the months ahead.

Although none of these bullish fundamental catalysts have actually triggered any notable price action, analysts still believe that the cryptocurrency’s macro outlook is incredibly bright.

One newly released data metric reveals that 95% of all Ethereum in existence is ready to be staked once the transition to a Proof-of-Stake consensus mechanism is completed.