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Ethereum 2.0 Deposit Contract Eyes Four Million Ethers as ETH Price Sets New ATH

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Tue, 04/27/2021 - 10:39
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Vladislav Sopov
Initial deposit contract of Ethereum 2.0 accomplishes new milestones as Ether price rockets
Ethereum 2.0 Deposit Contract Eyes Four Million Ethers as ETH Price Sets New ATH
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Today, the Ethereum (ETH) price witnessed a new all-time high above $2,650 on major spot exchanges. Here's what it means for the Ethereum 2.0 deposit contract.

ETH2 deposit contract surpasses $10 billion in value locked for the first time in its history

According to BeaconScan, an explorer for the inaugural stage of the Ethereum 2.0 rollout, 3,950,067 Ethers have been locked so far in the ETH2 deposit contract.

Ethereum 2.0 deposit contract surpasses $10B
Image via Twitter

This means that the integrity and finality of Ethereum 2.0 transactions are secured by 124,140 validators that deposited their stakes (minimum 32 Ether each) to the contract.

Amidst the ongoing upsurge in the Ether (ETH) price, the ETH2 deposit contract has surpassed the $10,000,000,000 threshold for the first time ever.

Should we treat the Ethereum 2.0 deposit contract as a publicly listed company, it would be ranked in the top 1,500 by market capitalization globally.

ETH2 enthusiasm is on fire

Namely, it would have surpassed Japanese multinational electronic giant Sharp Corporation and storied truck producers MAN SE in terms of net market capitalization.

This milestone is achieved amidst growing interest in Ethereum (ETH). CoinShares CSO Meltem Demirors outlined that numerous releases of Ethereum-based exchange-traded funds reflect enthusiasm for the second cryptocurrency.

Related
Demand on Ethereum Spikes As More ETH ETPs Roll Out Ahead of July Hard Fork: CoinShares CSO

Meanwhile, Ethereum (ETH) holders can now experiment with proof of stake (PoS) even before Ether migrates to its ETH2 iteration. Bender Labs released an Ethereum-Tezos bridge for DeFi purposes.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)