Ethereum

The Total Amount Of Ethereum Staked In ETH 2.0 Deposit Contract Hit All-Time High

According to Ali, a crypto researcher who relied on Glassnode data, roughly 150,000 ETH, worth about $195 million, has been transferred to the ETH 2.0 deposit contract in the last week. The total amount of Ethereum staked has also reached a new high of 13.9 million ETH.
The Total Amount Of Ethereum Staked In ETH 2.0 Deposit Contract Hit All-Time High 4

Prior to the Merge update, the number of addresses for the ETH 2.0 deposit contracts had reached 13,343,768. The stake rate grew as well, with 153,000 fresh ETHs staked in the month preceding The Merge.

The Merge occurred on September 15, 2022, marking Ethereum’s historic transition from proof of work to proof of stake, as well as its official abandonment of the resource-intensive, miner-based technique it had previously used to make changes to its decentralized ledger.

Ethereum holders can stake their currencies using the Beacon chain’s deposit contract. Staking incentives and staked ETH, on the other hand, remain locked and cannot be withdrawn. Staked ETH, existing staking rewards, and freshly minted ETH immediately following The Merge will all be locked on the Beacon chain and cannot be withdrawn.

The Total Amount Of Ethereum Staked In ETH 2.0 Deposit Contract Hit All-Time High 5

Withdrawals are instead scheduled for the Shanghai update, which will be the next substantial improvement after The Merge. Following The Merge, newly created ETH will be frozen and illiquid for at least 6 to 12 months, but it will continue to accrue on the Beacon chain.

This may be one of the reasons for the amount of ETH staked in the ETH 2.0 deposit contract reaching ATH. At the time of writing, ETH is trading at $1326.

ETH daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

1 hour ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

3 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

4 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

7 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

10 hours ago

This website uses cookies.