Ethereum 2.0 in sight: ETH course approaching 600 US dollars
The deposit contract for Ethereum (ETH) 2.0 exceeds an important mark and paves the way for the Mainnet launch of the long-awaited ETH Upgrade.
At the time of going to press, the total value of the capital paid into the Ethereum 2.0 Deposit Contract amounted to more than 185 million US dollars. It appears that whales are currently Financial Peak the main participants in ETH-Staking and small investors are still holding back.
Ethereum whales dominate the staking process
The Ethereum Deposit Contract started on 4 November 2020. Ethereum co-founders Vitalik Buterin himself deposited 3,200 ETH (about 2 million US dollars) shortly after the contract came into force.
At present, the bulk of the stalled Ethereum comes from only three addresses and especially small investors are hesitant, as it is still unclear how long one has to deposit one’s ETH in the Deposit Contract. Furthermore, it has not yet been decided how high the rewards for staking are.
ETH in the Deposit Contract are growing steadily
The latest developments indicate that the ETH upgrade is imminent. Moreover, the increase in the total amount paid into the ETH deposit contract seems to be related to the Ethereum price increase of the last few days.
Nevertheless, it seems unlikely that the required quantity for the start of the Mainnet will be reached before 1 December. At the moment there are more than 315,000 ETH in the Deposit Contract, but 524,288 ETH are needed for the start of Mainnet.