Ethereum 2.0 Deposits Surpass $1 Billion – Trustnodes

Ethereum 2.0 Deposits Surpass $1 Billion

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Ethereum 2.0 deposits reach $1 billion, Dec 2020

There are now more than $1 billion worth of eth on the new ethereum 2.0 blockchain for the first time ever.

That follows a gradual increase in deposits, rising from ◊98,000 precisely a month ago to now more than 1.5 million eth.

That increase has continued even after the minimum requirement of 524,000 eth was met on November 24th, with it tripling since as can be seen above.

Ethereum 2.0 deposits surpass $1 billion, Dec 2020
Ethereum 2.0 deposits surpass $1 billion, Dec 2020

Deposits are constantly made to the contract in chunks of 32eth from solo stakers but also staking service providers.

Kraken for example sent some 100,000 eth on behalf of their customers with it deposited earlier this month.

Other exchanges like Coinbase are set to launch ethereum staking too with the network working without a hitch so far.

The participation rate of 35,000 active validators is at above 99%, far more than we have seen in any testnet.

They’re finalizing epochs with blocks rolling as some 12,000 validators wait to be queued every 32 epochs.

All suggesting the system is working just as it should, increasing confidence for new stakers who won’t be able to see this deposited eth for probably at least two years, but trading venues might allow them to exchange them for unstaked eth dubbed beth.

The staked eth however would still be locked, and thus out of circulation, with this already reaching 1.5 million eth less than a month since it launched on December 1st.

Meaning the staked amount might reach ◊10 million a lot sooner than expected, translating to a practical reduction of 10% of ethereum’s total supply.

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