Ethereum 2.0 staking involves coins worth $1 billion

The deposit contract of Ethereum’s second version attracted 1.54 million ETH ($1.02 billion).

The coins staked in Ethereum 2.0 account for 1.35% of the market supply of the second-largest cryptocurrency by market capitalization.

Data: Etherscan.

The current staking yield stands at 13.38%, according to the service StakingRewards. At launch, the figure was around 25% per annum.

What is staking and how can you profit from it?

According to beaconcha.in, 36,101 validators are operating in the Ethereum 2.0 ecosystem.

The 1.54 million ETH2 coins staked are 4.5 times smaller than the amount used in DeFi protocols. According to DeFi Pulse, this figure stands at 7.06 million coins (~$4.07 billion).

The next chart shows the decline in the number of locked coins since the launch of the deposit contract in early November.

Data: DeFi Pulse.

A reduction in the active supply of Ethereum could support the price of the second-largest cryptocurrency, especially given growing demand amid a broader market upturn. Over the past week, Ethereum’s price has risen 18%, according to CoinGecko.

For more on the new system and the features of Phase Zero, as well as future development stages of ETH2, read in our article.

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