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ETH 2.0 deposit contract accumulated 2% of all ether

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ETH 2.0 deposit contract accumulated 2% of all ether

ETH 2.0 deposit contract accumulated 2% of all ether
CONTENT

  • ETH deposited on the ETH 2.0 smart contract already accounts for 2% of the ether turnover

  • Staking ROI is still poor

  • ETH continues to follow a bullish scenario

International consortium of news organizations developing transparency standards.

The Ethereum 2.0 deposit smart contract already has more than 2 million ETH on its balance, which is almost $ 3 billion

ETH 2.0 deposit contract accumulated 2% of all ether

The volume of deposit funds on the balance of the Ethereum 2.0 smart contract exceeded 2.2 million ETH (~ $ 2.7 billion at the current exchange rate). Thus, 2% of all ETH tokens in circulation are placed on the deposit contract.

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Source: twitter.com

The number of placed assets has already exceeded the bar necessary for the operation of the contract by four times. In total, 48.4 thousand deposits have been made since the launch of the contract.

Passive enrichment on ETH 2.0

ETH 2.0 deposit contract accumulated 2% of all ether

The growth of deposit funds is taking place against the backdrop of a bullish rally in the ether cryptocurrency, which has risen in price by more than 60% over the week. At the time of this writing, the ETH / USDT rate is $ 1195.

Source: tradingview.com

Recall that having collected the required amount of assets on the ETH 2.0 deposit contract, on December 1, Ethereum developers officially launched the Beacon Chain network. To become a full-fledged validator of the ETH 2.0 network, the user must deposit 32 ETH (~ $ 38 thousand) to the smart contract. At the same time, the annual return on staking at the time of writing is 11.33% per annum (~ 3.6 ETH per year).

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However, users with lower ETH balances can also participate in staking if they join the staker pool..

At the beginning of the path

The BeInCrypto editors have already reported that by the end of the second phase (the date of which has not yet been determined), all transactions in Ethereum 2.0 will be carried out exclusively using shards (autonomous blockchains). As part of the transition between the first and second phases, the Ethereum mainnet will abandon the Proof-of-Work (PoW) algorithm in favor of Proof-of-Stake (PoS).

It is also worth noting that despite the record growth, the fundamental factors that can determine the confident growth of Ethereum have not yet fully declared themselves. According to the indicator of the ratio of market value of ether to actual (MVRV), the cryptocurrency is still at extremely low levels since the beginning of 2018.

ETH 2.0 deposit contract accumulated 2% of all ether

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