While the Ethereum network’s proof-of-work (PoW) side has seen its hashrate reach new highs above 1 petahash per second (PH/s) this year. So, the transition to Ethereum 2.0 is still underway, with ether trapped into the ETH 2.0 contract.
To join the pool of ETH 2.0 validators, 32 ETH is necessary to become a validator and stake ethereum. There are reports on co-founder Vitalik Buterin contributing funds to the ETH 2.0 contract on November 6, 2020. That’s, when it initially released.
On January 17, 2022, etherscan.io data shows that the ETH 2.0 contract has around 9,057,890 eth valued over $28 billion. On January 16, 2022, the contract exceeded 9 million ether, according to data.
Year to date, the price of ethereum has increased by over 150 percent, but ether has lost 18.5 percent in the last 30 days. Then, and two-week statistics show that ether has lost 17.5 percent in value versus the US dollar. While Ethereum had a market cap dominance of 18-20% in 2021. That’s, it now has a market cap dominance of roughly 17.9%.
In addition to the 9 million ether locked under the ETH 2.0 contract, 1,541,113 ethereum worth $5.8 billion has been burned since the introduction of EIP-1559.
Since the launch of EIP-1559, the value of the ETH 2.0 contract and the burned ethereum has amounted to $33.8 billion at the time of writing.
Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul
