Ethereum 2.0: Over 100,000 ETH has been staked in the deposit contract

Ether addresses with K to M crash to severe lows
  • More than 100,000 ETH has been staked for Ethereum 2.0’s next development phase. 
  • However, this represents nearly 20 percent of the threshold and can cause a delay for Phase 0 in December. 

There have been a lot of interesting developments happening in the cryptocurrency industry, which are also worth keeping tabs on. However, It’s almost difficult to observe them all at a time, especially due to the ongoing market led by the Bitcoin (BTC). Earlier in November, the Ethereum developers announced the successful launch of the Ethereum 2.0 deposit contract, which marked the way forward to the long-awaited upgrade.

A threshold in staked Ether (ETH) had to be reached before the next phase – Phase 0 – for Ethereum 2.0 mainnet was launched. So far, over 100,000 ETH has been staked for the launching of the next phase in December. However, the number of staked coins are way too far from reaching the threshold, raising questions on whether Phase 0 will be delayed. 

Almost 20 percent of threshold staked for Ethereum 2.0

According to the information provided by the Ethereum 2.0 Launchpad, a total of 101,184 ETH has been staked on the network. Given that a threshold of 524,288 ETH still needs to be met, one can predict an imminent delay for the next phase of Ethereum 2.0. Basically, there are only 12 days left until December, and 423,104 ETH left to be staked before Phase 0 can be launched.

It’s safe to say that the interest for Ethereum 2.0 staking had dropped compared to the initial period when the deposit contract was announced. As Cryptopolitan reported, more than $1 million worth of ETH was staked in the network about 30 minutes after the official announcement. Later in the next day, over 14,000 ETH was staked, which amounted to almost $6 million following the crypto’s price at the time.

According to Glassnode, a crypto analytics platform, the current staked coins account for nearly 20 percent of the threshold. It seems Ethereum holders are more interested in trading the cryptocurrency, which is also soaring in price alongside Bitcoin.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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