By Tobi Loba
Ethereum (ETH), the second-largest cryptocurrency by market cap, has recorded new price all-time high of $1,487.
According to Binance exchange, this price milestone was recorded at 4:32 PM (UTC).
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At the time of filing this report, ETH is trading at $1,465.26, with about a 12% price uptrend in the last 24 hours. The digital currency is currently standing at $168 billion in terms of market capitalization.
Number of ETH Staked In Ethereum 2.0 Deposit Contract Nears $4.1 Billion
According to Glassnode, the number of ETH stakers in the Etheruem 2.0 deposit contract continues to increase, about to hit $4.1 billion.
Going by the data provided by the crypto analytics firm, the total amount of ETH deposited in the contract is currently $4,099,368,001.66.
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Glassnode tweeted, “Ethereum ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of $4,099,368,001.66 Previous ATH of $4,057,383,552.67 was observed on 29 January 2021.”
📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of $4,099,368,001.66
Previous ATH of $4,057,383,552.67 was observed on 29 January 2021
View metric:https://t.co/1ezmu1GKcj pic.twitter.com/EXdo95hxR1
— glassnode alerts (@glassnodealerts) February 2, 2021
This implies that the amount of ETH locked is 2,865,227.85 at the rate of $1,424 per coin, the price of ETH when Glassnode reported the development.
Locking ETH was necessary to start phase zero of the ETH 2.0 upgrade that has been expected by the community for several years.
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It is expected to greatly increase the number of transactions per second, solve other scalability issues and transfer Ethereum blockchain from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
Now stakers have continued to send their ETH to be locked in the deposit contract and the price of the digital currency has not relented in the market.
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