Staked ETH Reaches 5% of Total Supply of Crypto

Staked ETH Reaches 5% of Total Supply of Crypto
  • Ethereum 2.0 has more than 6.6 million ETH staked.
  • The present annual percentage return (APR) is about 6.1%.
  • ETH2.0 utilizes proof of stake (PoS) as its consensus system.

Ethereum upgrades Ethereum 2.0 has more than 6.6 million ETH staked. The ETH staked is over 5% of the total supply of the cryptocurrency. Currently, the ETH2.0 network contains 200K validators accounting for over 6 million Ethereum staked. The present annual percentage return (APR) is about 6.1%. The supply of Ethereum staking is increasing quickly and now crossed 6 million in ETH.

Moreover, ETH2.0 locked in stacking contracts at present it is 5.5% of the total supply of the cryptocurrency. As already mention APR is around 6.1%. This value may bounce down if the supply of staking increases. When 10 million Ethereum (ETH) locked in the deposit contract, the annual percentage return (APR) will fall to about 4.9%.

Ethereum upgrade ETH2.0 utilizes proof of stake (PoS) as its consensus system rather than the traditional proof of work (PoW) mechanism. Cryptocurrencies like Bitcoin and Ethereum (Core) use Proof of Work (PoW) for reaching consensus.

Furthermore, the Proof of stake (PoS) mechanism requires minimal computing power. In PoW validating nodes are miners, but in PoS nodes are called stakes. In PoS nodes only needs to stake some of their ETH.

Although, crypto miners added to the GPU shortage that’s initially caused by the global chip scarcity. American multinational technology company, Nvidia CEO Jensen Huang, noted on PoS and the shortage around this year’s E3 season.

Ethereum (ETH) Current Market Status

According to CoinMarketCap, the ETH price is trading at $2,293.93 with a 24-hour trading volume of $20,078,015,151, at the time of writing. However, ETH has increased by 1.01% in the last 24 hours. 

 In addition, ETH has a circulating supply of 116,876,010.31 ETH. Currently, ETH trades in  Binance, Tokocrypto, OKEx, Bybit, and Huobi Global.

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