Ethereum 2.0

Ethereum 2.0 Deposit Contract Reaches ATH of 3.6 Million ETH

The deposit contract for the awaited Ethereum 2.0 now holds an ATH of 3.6 million Ether worth over $6.1 billion.  This represents about 3.13% of the current circulating supply of ETH. Data from Etherscan reveals that there are 3.605,282 ETH staked on the Beacon chain.

A report from Glassnode suggests that the total Ether staked, based on the current price, is worth about $1.6 billion. Ethereum 2.0 upgrade was proposed as a permanent solution to the backlog experienced on the network. The huge amount of ETH staked suggests great support for the upgrade by the community of users.

Source: Glassnode

According to beaconcha.in, the number of active validators has also grown to 112,288. Also, the data reveals that the average balance of the staked Ether is 32.69 ETH. 

The whole Ethereum blokchain has evolved since its official launch in 2015. However, the current scaling issues have cost the network a lot. As a result, the cofounder, Buterin Vitalik proposed optimistic rollups as a viable temporary solution, which is set to launch very soon. 

What Ethereum 2.0 will bring to the Ethereum network

The coming Ethereum 2.0 upgrade will improve the network to a large extent. In addition to the groundbreaking scalability, the upgrade features the switch to the more eco-conscious Proof of Stake mechanism. 

The surge in the total locked value (TVL) on the beacon chain reveals the growing appetite of investors for the upgrade. Contrasting this to the value of ETH staked about a month ago, the TVL has risen by over $1 billion. Part of the factors responsible for this was the recent accumulation of the asset by institutions like Grayscale.

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