Ethereum's price surged by 4% to $3,220 on January 12 as selling pressure in the crypto markets eased. This rebound comes amid significant investor interest in ETH 2.0, with on-chain data revealing large deposits into staking contracts.
These developments have led traders to speculate on a potential price recovery to $3,500. This surge in staking deposits, amounting to $175 million, indicates a growing confidence in the network's future among investors.
The recent price action and staking activity suggest a potential market bottom for Ethereum, although market volatility remains a factor to watch.