According to data from Glassnode, over 13 million ETH has been locked into Ethereum’s Eth 2.0 staking contract. This means a new milestone for Ethereum. Let’s also mention that Eth 2.0 staking was launched in November 2020.
There Are Over 13 Million ETH Locked To Ethereum 2.0
In May 2021, 5,209,474 Ether was transferred to the Ethereum 2.0 deposit contract, an all-time high. After a short time, the value of the ETH 2.0 deposit contract saw 13 million ETH.
The protocol named Lido has the largest share in staked ETH with 31.8%.
Source: Glassnode, ETH 2.0 Total Value Staked by ProviderAlso, according to U.Today, Ethereum has come closer to transition by testing consolidation on the Sepolia testnet.
It should also be noted that the deposits in question represent 10.9 percent of the total circulating supply. The network also has to get through a testnet launch before the expected launch event. As soon as the Beacon Chain merges with the main chain, Ethereum will switch to Proof-of-Stake. The expectation is that the merger will be completed within this year.
According to previous reports, Ethereum founder Vitalik Buterin predicted that Ethereum could switch to Proof-of-Stake in August. However, now it is said that this date has been postponed to September.
The upgrade will significantly improve Ethereum’s energy consumption. Of course, on the other hand, there are also claims and concerns that the Proof-of-Stake structure is more insecure than Proof-of-Work.
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