Total Value Of ETH 2.0 Deposit Contract Just Reached New High: Details

The Total Value of ETH 2.0 Deposit Contracts Just Reached New High: Details

Recent data from Glassnode indicates that the locked amount that just marked a new ATH is 9,213,714 ETH, worth over $23.9 billion at current exchange rates. This means that almost 8% of the total ETH supply of 119,318,828 is currently placed in the ETH 2.0 contract.

The increasing number of depositors, validators and ETH balances on Ethereum 2.0 deposit contracts is an indicator that Ethereum investors and community are bullish on the native token in the long term. .

The increasing number of depositors, validators, and ETH balances on the Ethereum 2.0 deposit contract shows that Ethereum investors and the community have long-term bullish expectations for ETH.

Follow Santiment data, the Ethereum whales decided to buy in by taking in ETH worth nearly $497.2 million. According to the online analytics firm, ETH whale addresses holding 10,000 coins or more have added 200,000 ETH from underdogs since January 20 to mark the largest accumulation in two months.

Ethereum Hits Another Major Milestone In Addresses Amid Recent Rebranding

Glassnode reports that the number of addresses holding more than one ETH has just increased to a new ATH of 1,407,532. The previous high of 1,407,198 was observed on January 21. This could indicate a spike in retail interest.

The Ethereum Foundation commented in a blog post that Eth2’s branding does not represent what is happening to the network during its upgrade round. It added that “ETH2” and the nomenclature that appears to distinguish a proof-of-stake chain from a proof-of-work chain could soon be phased out.

The organization cited a number of reasons for the change, including a poor mental model for new users, fraud prevention, inclusivity, and clarity. The long-awaited Ethereum transition from a proof-of-work mining model to a proof-of-stake consensus is expected to happen in Q2 or Q3 of this year.


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