ETH, Bitcoin's main competitor, rallied all the way above $3500 levels this week, setting a new all-time high. The total value of Ethereum coins staked in these deposit contracts has surpassed $13 billion. As ETH supply shifts away from exchanges, a large number of ETH coins have shifted to decentralised finance (DeFi) protocols at the same time. Recently, institutional investors in the United States have been buying ETH.