Another new record in Ethereum 2.0 Staking contracts!
Ethereum 2.0 Staking contracts hit an all-time high, setting yet another record!
Ethereum 2.0 Staking is at an all-time high!
Ethereum 2.0 contracts have passed another historical milestone! The total value of Ethereums locked under the ETH 2.0 deposit agreement reached approximately 14 billion dollars.
The value of ETHs locked in Ethereum 2.0 staking contracts reached 14 billion dollars; The total amount of ETH staked has also exceeded 5 million.
According to the records, the amount of ETH locked in Ethereum 2.0 staking contracts is currently at an all-time high. According to the latest data released by Etherscan, the total value of Ethereum staked under the ETH 2.0 staking contract has seen nearly $14 billion. started. The ETH community has fully supported the network upgrade and has staked over 1 million ETH in just one week.
The world’s largest altcoin has shown incredible volatility since the beginning of May.. While it reached an all-time high of $4.350 on May 12, it fell to around $1,800 on May 23.
At the time of publication, it is trading around $2,500 with a market cap of over $290 billion.. Despite the recent drop, ETH is still up more than 250% since the start of 2021.
ETH price volatility has also accelerated whale movements.. Earlier this week, crypto analytics platform Santiment highlighted a surge in ETH whale movements amid massive price swings.
“The amount of Ethereum whale transactions (from $100,000) Meanwhile, around 23% of the total Ethereum supply is locked in Smart Contracts, according to the latest data released by Glassnode. exists. The growing popularity of NFT and DeFi products has also increased the demand for the world’s second largest digital currency.
There is a clearly growing trend since the launch of the staking contract. Blockchain analytics firm (May 28, 2021) reported that the total value of ETH staked is approximately $14 billion. In fact, the fact that such a large amount of funds are locked under new contracts shows that there is great support behind the upgrade.
What is an Ethereum 2.0 staking contract?
Ethereum 2.0 is the (PoS) version of the Ethereum (ETH) protocol. It will separate the entire Ethereum (ETH) network into a system of interconnected parts and replace mining with a staking system, which is a fundamental mechanism of blockchain security..
The minimum stake rate in Ethereum 2.0 is 32 ETH, so to become a validator, stakers need to lock a minimum of 32 ETH into contracts. As a matter of fact, Ethereum (ETH) supporters, who risked such a high cost, invested $15 billion in the deposit contract.
What is ETH 2.0? what will it do?
The ETH 2.0 upgrade will bring many innovations to the network, including the transition to the Proof-of-Stake consensus. Once fully migrated to ETH 2.0, the network is expected to handle 100,000 transactions per second.
High gas fees and transaction times negatively affect the market. Hence, incremental changes to the network will prepare Ethereum for the popularity of its dApps.
Also, EIP-1559 implementation is expected to launch in July 2021.. This implementation will turn ETH into a deflationary asset with a dynamic fee system and periodic destruction of fees.
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