Ethereum adoption isn’t slowing down. Addresses with 1-10 Ethereum recently reached a new milestone, hitting the 1,000,000 mark.

Booming industries like decentralized finance ( DeFi HTML4_ HTML5_ HTML5_) as well as non-fungible tokens, (NFTs), are increasing Ethereum’s use.

ETH 2.0 is still being rebranded and more investors continue to flow into it. Glassnode , a crypto analytic company, noted

“The total value of the ETH 2.0 deposit agreement just reached an ATH at 9,390,000.050 ETH.”

The Ethereum Foundation rebranded ETH2.0 to the consensus layer last month to reflect the evolution and development of the Ethereum roadmap. It was previously incorrectly interpreted. Additionally, Ethereum 1.0 was moved to the execution layer.

The consensus layer is intended to transform the Ethereum network’s proof-of-work (PoW), consensus mechanism, to a proofof stake (PoS), framework. It is deemed more cost-effective and environmentally friendly.

For sustained bullish momentum, Ethereum must break the resistance at $3,500. Since November 2021, when an ATH was set at $4,850, the second cryptocurrency based upon market capitalization has not been able a surge above $4,000 psychologically.

Ethereum is well-positioned to move higher, as IntoTheBlock’s IOMAP shows a modest supply barrier at $3,000. According to Ali Martinez, market analyst.