Ethereum: Total Value in ETH 2.0 Claims New ATH of 15.6M Tokens
The deposit contract for staking Ethereum [ ETH ] reached a new all-time high recently. Data from the on-chain metric website Glassnode revealed that the same crossed 15,569,431 tokens [worth roughly $19.95 billion] on Thursday. 📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of 15,569,431 ETH View metric:https://t.co/SzbMPqvhlb pic.twitter.com/jthHd2fOle — glassnode alerts (@glassnodealerts) December 8, 2022 In mid-September this year, the Ethereum network transitioned from Proof-of-Work [PoW] to Proof-of-Stake [PoS]. As a result, miners exited the ecosystem and validators became more relevant than ever. Simply stated, under the former consensus mechanism, miners expend electricity to mine blocks. Under the latter, ETH stakers are vested with the block validation power. As such, one has to invest a minimum of 32 ETH tokens to become a validator on Ethereum 2.0. Thus, the curve continuously moving upwards and reaching highs ...