{"id":565039,"date":"2020-12-18T15:20:09","date_gmt":"2020-12-18T12:20:09","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565039"},"modified":"2020-12-18T15:20:09","modified_gmt":"2020-12-18T12:20:09","slug":"ethereum-staked-on-the-eth-2-0-deposit-contract-hits-1b-in-value","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-staked-on-the-eth-2-0-deposit-contract-hits-1b-in-value\/","title":{"rendered":"Ethereum Staked on the ETH 2.0 Deposit Contract Hits $1B in Value"},"content":{"rendered":"<p><strong>Quick take:\u00a0<\/strong><\/p>\n<ul>\n<li><strong>The value of Ethereum staked on the ETH2.0 deposit contract has hit $1B in value<\/strong><\/li>\n<li><strong>There is 1.54 Million Ethereum staked on ETH2.0\u00a0<\/strong><\/li>\n<li><strong>Ethereum deposits to the contract seem to be entering a plateau phase<\/strong><\/li>\n<li><strong>If ETH2.0 was ranked as a DeFi project, it would be in the top 10 in terms of value locked<\/strong><\/li>\n<li><strong>Ethereum looks set to break $700 amidst a generally bullish crypto market environment<\/strong><\/li>\n<\/ul>\n<p>The amount of Ethereum staked on <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-eth2-0-deposit-contract-is-reportedly-live-on-github\/\" target=\"_blank\" rel=\"noopener\">the ETH2.0 deposit contract<\/a> has reached a new milestone of $1 Billion. At the time of writing, a total of 1.54 million has been sent to the ETH2.0 deposit contract. This amount is valued at $1.001 Billion using Ethereum&#8217;s current value of $650.<\/p>\n<h2>Ethereum Deposits to ETH2.0 Might Entering a Plateau Phase<\/h2>\n<p>Investors have continued sending Ethereum to the deposit contract despite the minimum threshold of 524,288 ETH being <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-deposits-to-eth2-0-contract-exceed-the-required-524288-eth\/\" target=\"_blank\" rel=\"noopener\">reached on November 24th<\/a>. However, the Ethereum deposits might be entering a plateau phase (pink chart) as demonstrated in the following chart courtesy of <a href=\"https:\/\/cryptoquant.com\/\" target=\"_blank\" rel=\"nofollow noopener\">CryptoQuant.com<\/a>.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th.png\"><img class=\"aligncenter size-large wp-image-565041\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-1024x276.png\" alt=\"\" width=\"1024\" height=\"276\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-1024x276.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-300x81.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-770x207.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-500x135.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-240x65.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th-717x193.png 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/ETH-Deposits-Dec-18th.png 1225w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>ETH 2.0 Would Rank a top 10 DeFi Project<\/h2>\n<p>If ETH2.0 were officially considered as a DeFi project, it would rank in the top ten based on the $1 Billion in value locked. A quick look at DeFiPulse reveals that ETH2.0 would be ranked seventh below <a href=\"https:\/\/en.ethereumworldnews.com\/defi-protocol-uniswap-is-on-track-to-hit-3b-in-total-value-locked\/\" target=\"_blank\" rel=\"noopener\">Uniswap<\/a> ($1.42B) and Sushiswap ($1.18B).<\/p>\n<h2>Ethereum Inches Closer to $700<\/h2>\n<p>The total value locked on ETH2.0 hitting the $1 Billion milestone is primarily due to the value of Ethereum zooming past the $600 price ceiling <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-has-a-50-chance-at-surpassing-30k-in-2021-btc-analyst\/\" target=\"_blank\" rel=\"noopener\">alongside a bullish Bitcoin<\/a>. Ethereum just set a two-year peak value of $676 as Bitcoin set its all-time high around $23,800 &#8211; Binance rate.<\/p>\n<p>With the weekend only a few hours away, Ethereum could very well be on a path towards <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-price-could-rapidly-rise-to-750-crypto-analyst\/\" target=\"_blank\" rel=\"noopener\">testing $700<\/a> as retail traders take the helm at the crypto markets. Institutional investors are generally known to pause for the weekend although the 24-hour crypto markets might cause some to stick around after hours.<\/p>\n<p>Therefore, the weekend could provide a new all-time high for Bitcoin that will ultimately fuel a push by Ethereum above $700. However, a Bitcoin correction should not be left out of the table and should be considered when analyzing Ethereum moving forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take:\u00a0 The value of Ethereum staked on the ETH2.0 deposit contract has hit $1B in value There is 1.54 Million Ethereum staked on ETH2.0\u00a0 Ethereum deposits to the contract seem to be entering a plateau phase If ETH2.0 was ranked as a DeFi project, it would be in the top 10 in terms of value locked Ethereum looks set to break $700 amidst a generally bullish crypto market environment The amount of Ethereum staked on the ETH2.0 deposit contract [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":59429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108120,823],"tags":[108023,1322,108122,213],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565039"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=565039"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/59429"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=565039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=565039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=565039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}