Ethereum 2.0 Contract Hits ATH, Bags $34B Worth ETH!

Ethereum 2.0 Contract Bags $34B Worth ETH!
  • ETH 2.0 Contract reaches ATH of 8.8 million ETH.
  • Total value amounts to $34 Billion.
  • ETH 2.0 Contract estimates a surge of 70% gains in the past 6 months.

One of the most anticipated moves from the stables of the Ethereum (ETH) network will be the Ethereum 2.0 Contract. The ETH 2.0 Deposit Contract was initially launched in December, 2020, about approximately two year back. Ever since the launch, the total bagging in for the deposit contract has been on the rise. 

Besides, the ETH 2.0 deposit contract establishes itself as the main consensus mechanism of ETH 2.0, which is also known as the Beacon Chain. With a travel of two years so far the deposit contract now hits an ATH of a whopping 8.8 million ETH inside it. Indeed, this amounts to about approximately $34 Billion!

ETH 2.0 Deposit Contract ATH

Though the news came out officially just a few hours back from the time of writing, the ETH 2.0 Deposit Contract has reached yet another ATH. During the late hours of January 3, 2022, the deposit contract bagged in a total of 8.8 million ETH. This is said to be the highest ever.  

In addition, with 8.8 million ETH inside the contract, this estimates that about 7% of the total ETH supply present are now locked into the contract. Besides the fact that, the deposit contract has previously reached it’s target value required for phase 0 in 2021. Since the launch of the contract in December 2020, the target value for phase 0 was 524,000 ETH and this has been achieved in 2021. Accordingly, to the current status of the contract, the value has surged up about 1500% more than the phase 0. 

In addition, the last six months witnessed an absolute surge in the number of depositors, nearly two times the previous. In June 2021, the depositors estimated to 27,132, whereas after six months, it doubled to 59,867. The increase in the number of validators has brought in this massive ATH for the contract.

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.