Eth2 deposit contract now holds 10% of the circulating ETH supply
The ETH 2.0 deposit contract can only be unblocked after the PoS transition, postponed to the latter half of the year. The deposit contract for staking Ethereum (ETH) on the Beacon chain reached a balance of 12 million ETH on Friday. The total locked value of Ether in the Eth2 contract is worth about $34.5 billion.The deposit contract was launched in November 2020 and currently holds around 10% of the total circulating supply of ETH. Beacon chain staking contract. Source: EtherscanThe Beacon Chain is the first major step in Ethereum's transition from a proof-of-work (PoW) to a....
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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....
Presently, the staking contract of Eth2 has become the largest holder of Ethereum. Moreover, it is compliant with ERC-20 standards and leads the other projects using the same tokens. The blockchain analytics source Nansen carries that the staking contract of Eth2 has exceeded that of WETH (Wrapped Ethereum) and is now the largest single Eher holder. Furthermore, unlike Eth, wrapped Ether meets the ERC-20 standard, making it the best ETH representation champion amidst decentralized finance projects that employ ERC-20 tokens. Related Reading | Microsoft To Fight Piracy With Ethereum,....
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....
Ether price has surged above $580 in recent days, but the impending release of Ethereum 2.0 isn't the only catalyst driving the current rally. Alongside the high anticipation for Ethereum 2.0, the high time frame breakout and daily gas usage on Ethereum remain key positive factors.Eth2 momentum accelerates in correlation with priceThe Eth2 mainnet will launch when the number of Ether (ETH) staked in the Eth2 deposit contract address hits 524,288.Data from CryptoQuant found that the value staked in the Eth2 deposit contract address is showing a correlation with the ETH price.ETH price....
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....