Ethereum 2.0 Staking Contract Reaches 3.6 Million ETH

Ethereum is expecting to have an inspiring year full of many technical upgrades coming. The long-term Ethereum holders are still awaiting the price to pump, but many variables can still change. Besides the recent indirect cooperation with VISA, there is also a clear uptrend in ETH staked like described in this article.

The Ethereum 2.0 deposit contract recently reached an all-time high: 3.6 million ETH. 

Glassnode is recently reporting that at its current price of approx. $1,631, the total ETH value amounts to nearly $6.1 billion. 

The amount of staked ETH has since dropped by about 300,000. However, there is an apparent trend of growth since the staking contract launched. Stakers have added over 1 million ETH since January 2021. The total amount exceeds 3% of the entire Ethereum supply.

The ETH 2.0 upgrade will bring many improvements to the network, including sharding and transitioning to a Proof-of-Stake consensus. Vitalik Buterin, an Ethereum co-founder, indicated how the changes would come through. Buterin identifies the most significant changes:

  • a roll-centric roadmap
  • a simplified merge
  • a parallelization of phases. 

ETH 2.0 Remains as Popular as Ever before

The upcoming changes to the network are about to prepare Ethereum for the popularity of its dApps. High gas fees have affected the market negatively. Some transactions on platforms like Uniswap can cost up to $100.

The future of ETH certainly looks bright with the way things are developing. The DeFi market is bound up with the performance of the Ethereum network. Therefore, following more upgrades, DeFi market statistics could see an enormous boost.

Source: www.beincrypto.com