ETH 2.0 Staking Contract Exceeds $10 Billion as it Sets New ATH

The total value locked in the ETH 2.0 staking contract has breached $10 billion following Ether’s rally to a new all-time high. As per BeaconScan, an explorer for the inaugural stage of the Ethereum 2.0 rollout, 4,000,162 ETH currently has been locked so far in the deposit contracts with Ethereum (ETH) price surging to a new all-time high at  $2,709.

ETH 2.0 Staking Contract Exceeds $10 Billion

With Ethereum breaching above the $2,700 mark, the total value of Ethereum locked in the deposit contract has exceeded over $10 billion for the first time ever. At the time of writing, Ethereum was currently trading at around $2,593.

According to BeaconScan, 4,000,162 Ethers have been locked so far in the ETH2 deposit contract.

The increase in the number of Ethereum in the staking contract is an indication that more people are staking the Ethereum cryptocurrency to earn rewards.

Generally, these investors are bullish about the future of the leading altcoin. As of April 28, 2021, there were a total of 124,488 validators.

As more people commit their funds towards staking, the overall rewards will decrease for everyone. However, at the current prices, there is still more than enough incentive to explore this option.

Ethereum Eyeing Towards $3,000

ETH is currently trading at $2,593 with a 1.5% gain over the past 24-hours.

With Bitcoin and other leading altcoins currently looking to gain the lost ground from the past week’s correction, ETH set a new all-time high of $2,709 on April 28.

The second-largest cryptocurrency by market cap has continued the bullish momentum despite the network congestion and the rising gas fee became an issue of concern a month ago.

If the bullish momentum continues, Ethereum is to set for a new all-time high and will continue to move toward $3,000.

Ethereum is one of the most valuable altcoins on the market. Over the last year, the cryptocurrency has seen a growth rising from roughly $250 to ten times to that of its current value.


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