Ethereum 2.0 deposit contract holds almost 3 million ETH


TL;DR Breakdown:

  • Nearly 3 million ETH has been staked on the Ethereum 2.0 network.
  • These coins are currently worth over $4 billion in today’s price.

There are several noteworthy developments in the Ethereum ecosystem, right from the increasing market valuation of the decentralized finance (DeFi) industry and Ethereum 2.0 staking. At the moment, almost three million Ether (ETH) has been staked on the deposit contract. To cap it all, the second-largest cryptocurrency recently made a new price high at $1,689 on Coinmarketcap. However, the cryptocurrency has slightly dropped from the ATH to $1,615 at press time.

$4 billion ETH has been staked in Ethereum 2.0

According to the information on Eth2 LaunchPad, a total of 2,935,746 ETH had been staked on the deposit contract. Following the market price of the cryptocurrency, Ethereum 2.0 is currently worth about $4.7 billion, per se. Also, the estimated APR for Eth2 is about 9.1 percent. The number of coins staked on the network has been increasing steadily even after the launch of the beacon chain on December 1. This indicates a strong level of interest in the Proof-of-Stake (PoS) transition of Ethereum.

As per, there are currently about 79,162 active validators on the Ethereum 2.0 network, while 12,097 are pending approval.

DeFi is booming again

The decentralized finance market is gradually regaining more traction. There has been an inflow of Ether and Bitcoin to DeFi protocols, which has pushed up the market valuation to over $32.48 billion. The increase in DeFi TVL also relates to the increased price of the cryptocurrencies. Maker, Aave, and Compound are the three leading protocols in the market, of all which has a TVL of over $3.8 billion. Uniswap dominates the DEXes category with a market valuation of $3.5 billion (30 percent of the DEXes market).

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