Tuesday, October 19, 2021
Home Latest News Ethereum As the stakers commit more than 2% of the supply, Ethereum 2.0 closes on...

As the stakers commit more than 2% of the supply, Ethereum 2.0 closes on a $4B valuation locked

By stake commited, Ethereum is now the third largest blockchain and has plenty of potential for growth.

The Ethereum 2.0 blockchain now holds 2.7 million ETH, worth $3.8 billion, just over a month after its launch.

The Ethereum 2.0 blockchain has been driven to become the third largest blockchain by staked funds by the combination of the Ether price rally and an ever increasing number of stakers. After Cointelegraph’s last progress update on December 18, this is an improvement of more than 1 million ETH. Ethereum has exceeded Tezos (XTZ) since then, but is still lagging behind both Polkadot (DOT), stuck at $10.4 billion, and Cardano (ADA), with $8.3 billion.

As cointelegraph.com reported, the percentage of the supply dedicated to staking by Ethereum is significantly shorter opposed to other staking competitors. Over 60 percent of the tokens dedicated to staking are seen by both Cardano and Polkadot, while Tezos stakers account for 90 percent of the circulating supply.

On the other hand, the deposit contract is committed to just over 2 percent of Ether’s supply. As reported by beaconcha.in, the participating stake is much smaller, as the Ethereum 2.0 blockchain only records new deposits after a waiting period of around two weeks.

According to Beaconcha.in, staking yield is approximately 9 percent, a reasonably average result. The yield is smaller than Polkadot and Avalanche incentives, according to stakingrewards.com, but greater than any other staking blockchains.

Ethereum stakers, compared to others, have the extra obstacle of not being allowed to withdraw their assets until the transition to the proof-of-stake blockchain is completed by developers. While this is one of the top priorities, this transition does not have any clear dates.

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