Ethereum stacking deposits have seen their biggest one day spike since the network launched in December 2020.
More than 200,000 eth, worth $550 million, were sent to the Beacon chain on Tuesday as pictured above.
That’s up 4x from 50,000 eth or less a day. Someone therefore may have sent 150,000 eth in one go.
That would presumably be ConsenSys. They raised $450 million and stated the proceeds will be converted into eth to use for staking and defi.
150,000 eth is about $400 million, making it all fit. But it could also be an increase in confidence on staking following the merger on testnet.
That is beginning to make it all start feeling a bit real, and therefore long time holders may be more confident in getting some staking yield at 5% a year, rather than plain holding.
That can come with its own risks of slashing, but the Beacon chain has been running very smoothly since launch with no problems.
Soon, it will be running the whole ethereum network, including defi dapps and NFTs, with some 10% of ethereum’s total supply now at stake to secure the network.