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Ethereum (ETH) 2.0 Surpasses 3,000,000 Ethers Staked While ETH Soars Above $1,800

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Wed, 02/10/2021 - 10:46
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Vladislav Sopov
Staking in Ethereum (ETH) 2.0 accomplishes notable milestone while Ether price rally shows no signs of coming to an end
Ethereum (ETH) 2.0 Surpasses 3,000,000 Ethers Staked While ETH Soars Above $1,800
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More than 93,000 Ethereum 2.0 enthusiasts have already transferred their assets to the ETH2 deposit contract. With the actual price of Ether over $1,800, its inaugural core element is secured by a $5.4 billion stake.

3,000,000 Ethers staked in Ethereum 2.0

According to analytical service ETH2Validators, which tracks the performance of staking and validating processes in Ethereum 2.0 Phase Zero or Beacon Chain, more than three million Ethers are staked in its deposit contract. The aggregated number of active validators inches closer to 85,000.

3,000,000 Ethers locked in ETH2 deposit contract
Image via Twitter

This number of active validators allows Ethereum 2.0 mechanisms to offer a high estimated annual reward of 9.06 percent. In the past week, about 365 validators joined Ethereum 2.0 daily.

While the net liquid Ether supply is still questionable for many crypto enthusiasts, analysts estimated the value of the current ETH2 deposit contract at over 2.62 percent of all ETH in circulation.

A total of 8,800 more validators are queued up at press time.

Are staking rules of Ethereum 2.0 forgiving?

Staking is a key process for ETH2, the proof of stake (PoS) version of the Ethereum (ETH) protocol. In ETH2, it will replace mining as a way to ensure the security and integrity of the network.

Ethereum 2.0's initial phase (Beacon Chain) successfully launched on Dec. 1, 2020, with 21,063 validators onboard. The minimum value of the ETH2 stake is set at 32 Ethers, or $57,600 at actual prices.

As covered by U.Today previously, Ethereum inventor Vitalik Buterin repeatedly stressed that the rules of participating in ETH2 staking look "forgiving" to him. Meanwhile, this has not prevented dozens of staked validators from being slashed on Feb. 4, 2021.

Related
First-Ever Massive Slashing Took Place in Ethereum 2.0. What Happened?

Seventy-five validators were slashed and excluded from validating processes due to their attempts to increase the attestation rate.

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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.)