The Ethereum Beacon Deposit Contract now holds an all-time high figure of 47.36 million ETH, representing 33.9% of the total ETH supply.
According to Santiment, the Beacon Deposit Contract has achieved a new peak, now holding 47.36 million ETH. This milestone marks a significant increase from two years ago when it held only 10.9% of the supply. The current holding is 33.9% of the entire Ethereum supply, reflecting a more than threefold increase over the past two years.
🤯 The ETH2 Beacon Deposit Contract, used for staking deposits for Ethereum 2.0, now holds an all-time high 47.36M ETH, This is good for 33.9% of the entire supply, and more than tripling since the 10.9% it held two years ago. pic.twitter.com/aCnEhfClfb
— Santiment (@santimentfeed) July 10, 2024
Shift in Ethereum Holdings
The surge in the Beacon Deposit Contract’s holdings has significantly impacted the distribution of Ethereum across various wallet categories. Wallets holding 10K+ ETH, excluding the Beacon Deposit Contract, have seen their share decrease by 5.3% over the past two years.
Conversely, the Beacon Deposit Contract has increased its holdings by 23.0% of the total ETH supply. Meanwhile, wallets holding 10K or less ETH have experienced a decrease of 17.7% in their share of the supply.
Top Accounts by ETH Balance
The dominance of the Beacon Deposit Contract is further emphasized by the top accounts by ETH balance. Wrapped Ether (WETH) follows Beacon Deposit Contract on the list, with a balance of 2.7 million ETH, then the Binance 7 address with approximately 2 million ETH. Additionally, the Arbitrum Bridge holds 1.8 million ETH, and Robinhood has 1.3 million ETH.
Notably, in February, Ethereum tokens worth over $111 billion were locked on the blockchain, coinciding with a rise in Ethereum’s value above the $2,800 mark.
Market Sentiment and Ethereum’s Current Price
One commentator expressed bullish sentiments on the report, noting the significant growth and increased dominance of the Beacon Deposit Contract.
Having been focused on Solana for an extended period, he appreciated the awareness of Ethereum 2 developments. He remarked on the positive outlook for Ethereum’s future, given these trends.
Meanwhile, at the reporting time, the price of Ethereum stands at $3,141.70, with a 24-hour trading volume of $13,865,574,553. This represents a 1.17% increase in price over the last 24 hours, although there has been a slight decline of 0.30% in the past week.
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