The Amount Of Ethereum Locked In ETH 2.0 Hits A New Level As 153,000 ETH Is Added This Month
The amount of Ethereum locked in Ethereum 2.0 deposit has reached another new level ahead of the merge.
As stated by OkLink’s data, the total number of Ethereum (ETH) deposited in the Ethereum 2.0 staking contract hit a new ATH of 13,340,584 ETH which is worth $21.3 billion at the time when the news was filed.
As the merge approaches, the number of stETH in the contract has risen since the beginning of this month. As stated by the OKLink, almost 36,000ETHs has been added every week since the beginning of August. This addition makes the overall number of coins stakes this month to 153,000 ETH, worth $244.34 million at the current exchange rate.
It is good to know the number of depositors suggests that investors are having an increased interest in Ethereum which in turn shows that there must a bullish ahead.
StETH Spikes To A New ATH
The ETH 2.0 was launched in November 2022, and since then, there has been a growing Ethereum deposit.
For instance, according to Glassnode, the Lido, a non-custodial liquid staking protocol for Solana, has the most significant amount of stETH in the previous month. The Lido’s staked Ethereum represents 31.8% of the total Staked.
It is worth noting that the most anticipating project as far as Ethereum blockchain is concerned is the Merge.
Merge is the transition from the Proof-of-Work to Proof-of-Stake to minimize the rate of energy consumption.
Recently, the IOG, the research team at the Cardano blockchain introduces the protocol to transform them from Proof-of-Work to Proof-of-Useful Work for mostly the Bitcoin miner and all others.
As reported previously, the merge will probably take effect between the range of 15th of September to 20th of September
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
