ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion
The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether. Ethereum 2.0 Contract Exceeds 9 Million Ether
While the proof-of-work (PoW) side of the Ethereum network has seen its hashrate tap all-time highs above 1 petahash per second (PH/s) this year, the transition to Ethereum 2.0 continues with ether being locked into the ETH 2.0 contract.
Essentially, to become a validator and stake ethereum, 32 ETH is required to join the pool of ETH 2.0 validators. When the ETH 2.0 contract first launched, Bitcoin.com News reported on Ethereum’s co-founder Vitalik Buterin contributing funds to the contract on November 6, 2020.
On January 17, 2022, etherscan.io data indicates that there’s approximately 9,057,890 ethereum worth over $28 billion (at the time of writing) in the ETH 2.0 contract. Data shows that the contract exceeded 9 million ether on January 16, 2022.
Year-to-date, ethereum’s price is up over 150% but during the last 30 days, ether has shed 18.5% and two-week stats indicate ether has lost 17.5% in value against the U.S. dollar. While Ethereum’s market cap dominance was 18-20% during the course of 2021, today ETH dominance is around 17.9%.
When Bitcoin.com News reported on the contract exceeding 7.4 million, ether was a bit more valuable as the stash was valued at $29.3 billion at the time. In addition to the 9 million ether locked into the ETH 2.0 contract, since the implementation of EIP-1559, 1,541,113 ethereum worth $5.8 billion (at the time of writing) has been burned.
Between the ETH 2.0 contract and the burned ethereum since the introduction of EIP-1559, the value equates to $33.8 billion in value at the time of writing. Tags in this story 2.0 Contract, 32 ether, Burned ETH, Burned Ether, Contract Address, Cryptocurrency, EIP-1559, ETH, ETH 2.0, Eth2 Contract, Eth2 deposit address, Eth2 deposits, ether, Ether stats, Ethereum, Ethereum 2.0, Ethereum staking, Fees, PoS, Proof of Stake (PoS), Proof-of-Stake, revenue, Smart Contract, staking, Vitalik Buterin
What do you think about the 9 million ether locked into the Ethereum 2.0 contract? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed TECHNOLOGY | Dec 28, 2021 Ethereum Co-Founder Vitalik Buterin Publishes "Plausible Roadmap" Addressing Scalability TECHNOLOGY | Dec 10, 2021
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleLucrosus Capital Launched $LUCA – Decentralized Venture Capital (DeVC) Next articleCrypto Job Postings Increased 400% in 2021 According to Linkedin Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNear Foundation Raises $150 Million to Bolster Web3 Adoption
On Thursday, the Near Foundation announced the project has raised $150 million from strategic investors such as Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocol’s native crypto asset jumped more than 7% ... read more.Tesla Begins Accepting Dogecoin Payments — Some Merchandise Can Only Be Purchased With DOGE Survey: Proportion of South African Crypto Holders Grows to 11.3%, 56% of Crypto Owners Hold Bitcoin FTX Launches $2 Billion Venture Capital Fund Focused on Bolstering Blockchain, Web3 Adoption British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated