Ethereum 2.0 deposit contract holdings surpass 12 million ETH

The amount of funds committed to the Ethereum 2.0 deposit contract has surpassed 12 million ETH (~$34.15 billion). This is equivalent to roughly 10% of the market supply of the second-largest cryptocurrency by market capitalization, according to data from Etherscan and CoinGecko.

The deposit contract is the largest address in the ecosystem. In second place, with a balance of 6 million ETH, is the Wrapped Ethereum contract. In third place is one of Kraken’s exchange wallets (2.11 million ETH).

By the end of April, the number of Ethereum 2.0 validators surpassed 375,000. The increase since the start of the year stood at 26%.

Ethereum 2.0 ranks second by the value of assets in staking, behind only Solana.

The annual staking yield for Ethereum 2.0 is 4.5%.

In line with the terminology update, Ethereum developers have dropped the terms ETH1 and ETH2 in favour of the ‘execution layer’ and ‘consensus layer’ respectively.

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