• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Ethereum 2.0 Contract Now Holds 10% Of ETH In Circulation

Anifowoshe Ibrahim by Anifowoshe Ibrahim
3 months ago
in Ethereum
Reading Time: 2 mins read
Advertisement

Ethereum, the largest altcoin, is still suffering from the crypto market’s dismal winter. Following intense sell-offs by traders and investors, ETH fell below the $2k threshold. According to Glassnode, the total number of addresses lost has reached 34,966,535 addresses. As a result, the purpose of the event is highlighted.

The altcoin, on the other hand, has another card in its sleeve, which ETH counted on.

Ethereum 2.0 Anticipation grows

For starters, “The Merge” alludes to the Ethereum blockchain’s long-awaited upgrade. The world’s second-largest cryptocurrency would transition to a proof-of-stake basis, removing concerns about Ethereum’s environmental impact. Improve the transaction speed as well.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

To reach the ‘deflationary’ state, the claimed cryptocurrency continued to destroy a portion of its own supply in accordance with the Merge.

In reality, the volume of supply last active 3y-5y fell to 18,579,468.002 ETH, a 5-month low.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Source: Glassnode

The in-transit merger has benefited the largest altcoin network significantly. Investors have been preparing for the staking functionality by continuing to deposit Ether as the Ethereum network moves closer to ETH 2.0.

  Related Reading | Cryptocurrency Spams Grow By Over 4000% In The Last Few Years

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Source: oklink.com

The most recent statistics, as of 30 May, revealed an amazing figure. The total number of ETH 2.0 deposit contract addresses staking has reached 12,711,363, with a staking rate of 10.72 percent. This means that ETH2 holds more than 10.72 percent of all ETH currently in circulation.

The Big question

The aforementioned factors may indeed aid the flagship coin in registering a small rally in the near future. Indeed, as of press time, ETH had had an 8% increase, allowing it to surpass the $1.9k milestone.

ETH/USD trades close to $2k. Source: TradingView

Over the months, ETH’s ambitious move has hit many barriers in terms of delays. A high-level security risk known as a blockchain “reorganization” occurred recently. To make matters worse, no firm date for the “much-anticipated” upgrade has been announced.

The question remains as to how long ETH can rely on this “anticipation” to turn a profit?

Related reading | Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty

Featured image from iStockPhoto, Charts from TradingView.com
Tags: ETHethereumEthereum 2.0Ethereum Merge
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

ethereum

Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge

2 hours ago
Ethereum Rejects $2k, Retest Of $1,800 Imminent

Ethereum Rejects $2k, Retest Of $1,800 Imminent

2 hours ago
Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

2 days ago
Ethereum Price

Ethereum Sees Setback After Breaking $2k, But Price Likely to Maintain Upward Trajectory

2 days ago
New Findings Shows Institutional Investors Take More Interest In Ethereum

New Findings Shows Institutional Investors Take More Interest In Ethereum

3 days ago
ethereum

Will Ethereum Breach $2,000 Before The Merge?

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Tigon Mobile P2E Game Bless Global Pre-Registration Begins — “Expanding the P2E Ecosystem”

August 15, 2022

Revolutux, Solana, and Chainlink: Why the cryptocurrency market is optimistic about these names

August 15, 2022

The new Polygon Web3 platform, FrontFanz, signs over 100 more creators to join their platform

August 15, 2022

The Most Important Week For Ethereum: Final Steps Before The Merge

August 15, 2022

Gnox (GNOX) Expected To Deliver High Returns, Similar To Cronos (CRO) And Ripple (XRP) After Successful ICO

August 15, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.