47.36 Million ETH Stake in the ETH2 Beacon Deposit Contract

Ethereum 2.0 trading has seen significant growth and reached a major milestone. Thus, the deposit contract for trading Ethereum on Beacon Chain reached an all-time high of 47.36 million ETH this week.

Interestingly, this represents 33.9% of the total Ethereum supply.

Major Achievement in ETH2 Sharing

According to the Data According to crypto analytics platform Santiment, this is a significant increase compared to two years ago when it held just 10.9% of the supply, effectively more than tripling its stake.

“The ETH2 Beacon deposit contract, used for Ethereum 2.0 deposits, now holds an all-time high of 47.36 million ETH, good for 33.9% of the total supply, and more than tripled from the 10.9% it held two years ago.”

Santiment also Spotlight Redistribution of ETH to different levels of wallets. Thus, wallets holding more than 10 million ETH, which represent the Beacon deposit contract, have increased their share of the ETH supply by 23% in the past two years.

On the other hand, holdings in other wallet categories declined, with wallets holding more than 10,000 ETH (excluding Beacon Deposit Contract) down 5.3% and wallets holding 10,000 ETH or less down 17.7% over the same period. This shift indicated increased participation in Ethereum 2.0 staking.

Impact of increased participation in Ethereum stake

Despite the increasing trend towards storage, data And suggest Betting bonus rates and inflation rates have unexpectedly fallen.

The reward rate represents the annual percentage return on staking ETH, similar to the interest earned for contributing to the security of the network. Meanwhile, the inflation rate measures the speed at which the total supply of ETH is growing, with new ETH being minted as staking rewards contributing to the inflationary trend.

A low reward rate means that participants will receive fewer new ETH per staked token in the short term. However, a low inflation rate means that the total supply of ETH is expanding more slowly. This could benefit the value of ETH in the long term.

Special Offer (Sponsored)

$600 Free from Binance (Exclusive to CryptoPotato): Use this link to register a new account and get an exclusive $600 welcome offer on Binance (Full details).

Limited Offer for 2024 on BYDFi Exchange: Welcome Bonus up to $2888, Use this link to register and open a position of 100 USDT-M for free!

BeaconcontractdepositETHETH2Millionstake
Comments (0)
Add Comment