$33.5 billion worth of ETH ‘trapped’ in largest Ethereum contract
The largest Beacon Chain staking contract worth $33.5 billion is awaiting the Ethereum mainnet merger to unlock. The single largest Ethereum contract containing 8,641,954 Ether (ETH) worth $33.5 billion is sitting idle because it cannot be spent or sent.A Twitter user highlighted the Beacon chain contract, claiming it to be the largest Ethereum contract with billions of dollars worth of ETH “trapped” inside it. BREAKING: 8,641,954 ETH ($32 billion) trapped in single largest Ethereum contract and unable to be sent or spent. Will require hard fork that hasn't been written or specified....
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The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence.
Ethereum 2.0 Contract Nears $30 Billion
In the early days, the Ethereum (ETH) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm....
The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether.
Ethereum 2.0 Contract Exceeds 9 Million Ether
While the proof-of-work (PoW) side of the Ethereum network has seen its hashrate tap all-time highs above 1 petahash per second (PH/s) this year, the transition to Ethereum 2.0 continues with ether being locked into the ETH 2.0....
Statistics now show the Eth2 deposit contract has more than 5.2 million staked ether worth over $13 billion locked into the smart contract. The contract launched on November 4, 2020, and three weeks later, the contract met the required threshold to initiate the Beacon Chain. It’s not cheap to become a validator these days, as today’s exchange rates show the 32 ether to get started will run a user more than $84k. More Than $13 Billion Worth of Ether Locked Into the Eth2 Deposit Contract Ethereum users have added quite a bit of ether to the “Eth2 deposit contract,” as....
The aftereffects of the London upgrade begin to emerge as the Eth2 staking contract becomes the single largest Ether holder. Recently, the Ethereum network reached a new staking milestone. On Aug. 17, the Ethereum 2.0 staking contract became the single largest holder of Ether (ETH), surpassing Wrapped Ether (WETH). According to data from Etherscan, the Eth2 deposit contract now holds over 7.14 million Ether tokens, valued at $23 billion at the time of writing.This accounts for nearly 6.1% of all Ether tokens in circulation, which means that the staking rate for Ethereum is now over 6%. The....
The Eth2 staking contract is now the single-largest address by Ether holdings. The staking contract for the Ethereum 2.0 blockchain is now the single-largest holder of Ether.According to blockchain analytics provider Nansen, the Eth2 staking contract has surpassed Wrapped Ethereum (wETH) to become the single largest holder of ETH. Unlike Ether, Wrapped Ether adheres to the ERC-20 standard, making it the favored representation of ETH among DeFi protocols that use ERC-20 tokens.The findings were posted to Twitter by Alex Svanevik, CEO of blockchain analytics firm, Nansen, on Aug. 17. The....