The value of Ethereum deposited in Ethereum 2.0 contracts reaches $20 billion
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Answer The value of Ethereum deposited in Ethereum 2.0 contracts reaches $20 billion
Ethereum 2.0, the long-awaited upgrade to the Ethereum network, has received massive support from the Ethereum community since the official launch of the “Beacon Chain” in December 2020.
The site has shown Etherscan.com Recently, the total value of Ethereum bound under the Ethereum 2.0 Depository Contract crossed the $20 billion mark.
The Ethereum 2.0 deposit contract now has 6.6 million ETH, which is an all-time high.
During the first week of July 2021, the number of ETH deposited in Ethereum 2.0 exceeded 6 million ETH for the first time.
Due to the recent jump in the price of Ethereum, the total value of the cryptocurrency has increased dramatically.
Read:El Salvador Creates New $150 Million Bitcoin Fund…Here’s How To Use It
In terms of price, the world’s second largest cryptocurrency has seen a noticeable increase in the past two weeks.
The price of Ethereum reached a high of around $3,200 on August 8 for the first time since May 19, 2021.
Currently, Ethereum is trading near $3,150 with a total market capitalization of over $345 billion.
The dominance of Ethereum over the cryptocurrency market is currently at 19.5%.
Ethereum split:
The Ethereum network accelerated its journey towards the Ethereum 2.0 upgrade with the recent “London” split and update that took place last week.
Vitalik Buterin, co-founder of Ethereum, described the recent split as an important step in creating an energy-efficient ecosystem.
Where he stated that:
The latest fork is the largest single upgrade to the Ethereum network since 2015 and has significant implications for fee cost.
The EIP-1559 can reduce the carbon emissions caused by the grid by 99%.
It is worth noting that cryptocurrencies such as Bitcoin and Ethereum have been criticized in recent times due to their high energy use.
Tesla CEO Elon Musk sparked a big sell-off in May after his comments about the high carbon emissions of bitcoin mining.
Read:The co-founder of Ripple recovers from the Corona virus
Read also:
Brazil Launches Its First Environmentally Friendly Bitcoin ETF…Details Here
Bitcoin whales continue to collect bitcoins and avoid taking profits at current levels
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