Ethereum 2.0 is still a long way off. The project, which was supposed to start in 2022 but has been delayed numerous times, has now been pushed back even further. Investors in Ethereum have not been deterred from investing their coins in the network as a result of this. The number of staked coins on the network has been steadily increasing, particularly in 2021. The market’s mostly positive trends this year have accelerated this trend.
With the explosion of decentralized finance in recent months, staking has increased (DeFi). This is due to the fact that users who stake their coins receive a reward for securing their coins in these contracts. As a result, the number of projects that offer staking has increased. Ethereum, however, continues to be at the forefront of this. The Ethereum 2.0 community has grown tremendously in less than a year.
6.5 percent of the total ETH supply has been locked up.
Earlier this year, Ethereum made headlines when it was discovered that 5% of its total supply was held in its deposit address. In the third quarter of the year, this trend continued. The total amount of ETH staked ahead of Ethereum 2.0 is currently 7.7 million ETH. As a result, more than $25 billion has already been invested in the network.
This number was $20 billion a month ago, and in just over a month, it jumped 25% to over 6.5 percent of the total circulating supply now locked ahead of Ethereum 2.0.
Staking ETH provides a way for investors to earn passive income with their cryptocurrencies in addition to making the network more scalable. One of the main drivers of ETH 2.0’s adoption of staking has been this.
There are now over 240,000 Ethereum validators.
As the amount of ETH staked has increased, so has the number of validators. To run a full validator node, you’ll need 32. Because not everyone can afford to stake 32 ETH, investors pool their funds on exchanges, which then stake the coins on their behalf.
The number of validators on the Ethereum 2.0 contract has now surpassed 240,000, according to current statistics. This represents a 17 percent increase over the network’s previous milestone of 200,000 validators, which was reached two months ago.