O.M.Gđ± Unbelievable Ethereum 2.0 Staking Crosses 30 Million ETH for the First Time
âŒJUST W000WâŒ
Total value staked on sep 19th in Ethereum 2.0 contracts crossed 30 million ETH for the first time since. On chain data reveals the Fed rate pause announcement may have triggered the bullish response among Ethereum investors.
Ethereumâs week long price rally slowed Wednesday as ETH spot market traders sought to book early profits after the much anticipated Fed Rate pause announcement. But behind the scenes, Ethereum long term investors ramped up ETH 2.0, Staking by another $126 million.
An increase in staking deposits primarily improves the security of Proof of Stake consensus protocols.Â
But more than that, it implies that network participants are growing confident in Ethereumâs long term viabilityđ„.Â
This 30 million ETH milestone means more than $48.6 billion worth of value is now locked up on the Ethereum Beacon Chain. it also means that more than 25% of the 120,227,795 ETH total circulation supply of 120.2 million is now locked up in smart contractionđÂ
