Wednesday, April 21, 2021
Home Crypto News Market 1% Of All ETH Is In The Deposit Contract And Deposit Contract...

1% Of All ETH Is In The Deposit Contract And Deposit Contract Reaches 1,000,000 ETH

- Advertisement -

Ethereum has now officially managed to launch Ethereum 2.0 with the Beacon Chain. Ethereum 2.0 Phase 1 started on time on 01.12.2020. And now it is clear that interest in Ethereum staking is growing steadily.

Ethereum 2.0 with more than 1,000,000 deposited ETH

The threshold required for the timely activation of Ethereum 2.0 has already been reached on 24.11.2020. After investors deposited the necessary minimum amount of 524,288 ETH on 24 November, new milestones have now been reached.

Within a few days, the deposited amount of ETH has almost doubled compared to the minimum quantity and now stands at more than 1,000,000 ETH for the first time.

The consequences of ETH staking on ETH price are easy to describe. 

The more ETH is being staked, the lesser it will be available for trading until the start of the next phase of ETH 2.0.

Depending on when the next phase of ETH 2.0 comes into play, it could take months or years to access the deposited Ethereum again.

If the number of deposited ETH continues to increase, this could undoubtedly impact the Ethereum price because of the demand/supply law.

The proportion of staked ETH has reached the 1% mark. Now 1% of all Ethereum is in the deposit contract. That is another significant achievement.

What is certain is that Ethereum is taking a huge step. A shift from an existing proof-of-work consensus mechanism to a proof-of-stake mechanism is like open-heart surgery.

The complete system is changing, and all the advantages and disadvantages of PoS systems will come into play.

Investors will likely see a high incentive to deposit their ETH in the new proof-of-stake mechanism. With an expected return that can also be in the double-digit range, this aspect of PoS is an exciting opportunity to invest in ETH staking.

- Advertisement -
Albert Brown
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Chiliz CEO Alexandre Dreyfus Announced Working On Chiliz Chain V.2

Chiliz CEO Alexandre Dreyfus has announced that they are working on the next version of Chiliz Chain. With the new version, users will be...

Binance list FC Barcelona Fan token

Cryptocurrency exchange Binance has announced that it will list the FC Barcelona Fan Token (BAR). The BAR will initially be listed in the exchange...

Cryptocurrency Fund Launches To Combat Volatility In Bitcoin

Backed by venture capitalist Mark Carnegie of MH Carnegie & Co., in partnership with leading global blockchain expert Sergei Sergienko. Marks the entry...

Gaming Giant Ubisoft Has Become A Validator In Tezos Network

The French gaming giant Ubisoft, known for Assassin's Creed and Far Cry, has joined the ecosystem of the Tezos blockchain platform as a corporate...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly