Friday, October 7

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. 

Read Also: Charles Hoskinson Says Vasil Is The Last Hard Fork Of An Era As He Clarifies The Trending Issue With Cardano Blockchain

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.

Read Also: Attorney John Deaton Accuses Gary Gensler For Leveraging On The Lack Of Congressional Action To Pock-nose Into Crypto.

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

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