ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion – Technology Bitcoin News

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ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion

The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether.

Ethereum 2.0 Contract Exceeds 9 Million Ether

While the proof-of-work (PoW) side of the Ethereum network has seen its hashrate tap all-time highs above 1 petahash per second (PH/s) this year, the transition to Ethereum 2.0 continues with ether being locked into the ETH 2.0 contract.

ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion

Essentially, to become a validator and stake ethereum, 32 ETH is required to join the pool of ETH 2.0 validators. When the ETH 2.0 contract first launched, Bitcoin.com News reported on Ethereum’s co-founder Vitalik Buterin contributing funds to the contract on November 6, 2020.

On January 17, 2022, etherscan.io data indicates that there’s approximately 9,057,890 ethereum worth over $28 billion (at the time of writing) in the ETH 2.0 contract. Data shows that the contract exceeded 9 million ether on January 16, 2022.

Year-to-date, ethereum’s price is up over 150% but during the last 30 days, ether has shed 18.5% and two-week stats indicate ether has lost 17.5% in value against the U.S. dollar. While Ethereum’s market cap dominance was 18-20% during the course of 2021, today ETH dominance is around 17.9%.

When Bitcoin.com News reported on the contract exceeding 7.4 million, ether was a bit more valuable as the stash was valued at $29.3 billion at the time. In addition to the 9 million ether locked into the ETH 2.0 contract, since the implementation of EIP-1559, 1,541,113 ethereum worth $5.8 billion (at the time of writing) has been burned.

Between the ETH 2.0 contract and the burned ethereum since the introduction of EIP-1559, the value equates to $33.8 billion in value at the time of writing.

Tags in this story
2.0 Contract, 32 ether, Burned ETH, Burned Ether, Contract Address, Cryptocurrency, EIP-1559, ETH, ETH 2.0, Eth2 Contract, Eth2 deposit address, Eth2 deposits, ether, Ether stats, Ethereum, Ethereum 2.0, Ethereum staking, Fees, PoS, Proof of Stake (PoS), Proof-of-Stake, revenue, Smart Contract, staking, Vitalik Buterin

What do you think about the 9 million ether locked into the Ethereum 2.0 contract? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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