Although ETH, the cryptocurrency of the largest smart contract platform Ethereum, has lost 10% in the last month, the total value (TVL) metric locked on the network has risen to an all-time high.
Ethereum TVL value has reached $40 billion, according to a Twitter post by on-chain data tracker glassnode alerts. Most of this figure represents the monetary value of ETH tokens locked for staking on the network.
Despite the price drop in Ethereum, the fact that investors continue to lock tokens on the network attracts everyone's attention. Experts comment that medium-long-term investors have upside expectations.
What About Futures?
While the total value locked in the ETH network continues to rise, a different expectation prevails in the futures markets. According to the chart shared by market follower Coinglass, short transactions continue to dominate in the futures market.
51% of futures traders are short. This situation reveals that the majority expects a decrease, albeit a small one.
ETH Price
The largest altcoin by market cap has shown sideways movement throughout the week.
$ETH is currently catching around $1,800.