The amount of ETH in the Ethereum 2.0 staking contract has risen to a new record high with Ethereum’s mainnet Merge just around the corner.
The total amount of ETH placed in the Ethereum 2.0 staking contract reached a new record high of 13,340,584 (13.34 million) , according to data from OKLink. The assets were valued at $21.3 billion at the time this sentence was written.
Since the beginning of this month, the amount of ETH staked in the contract has increased dramatically as Ethereum gets closer to the eagerly anticipated Merge upgrade.
According to OKLink data, since the start of August, almost 36,000 ETHs have been added each week, bringing the total number of coins staked this month to 153,000 ETH, or $244.34 million at the current exchange rate.
The rise in depositors and Ethereum balances, in particular, indicates that investors are optimistic about Ethereum and have high hopes for the project.
Increased Deposits of ETH 2.0
Keep in mind that since the ETH 2.0 staking contract’s introduction in November 2020, the quantity of Ethereum currencies invested has been expanding quickly.
The non-custodial liquid staking mechanism for Solana called Lido, according to cryptocurrency data analytics company Glassnode, has the most Ethereum staked. Lido’s staked ETH amounts to 31.8% of the total amount locked, according to Glassnode.
Merge upgrade edge closer
In the interim, Ethereum is getting closer to the update known as The Merge, which will see it switch from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS).
The Merge could take place before September 19, 2022, according to Ethereum protocol engineer Terrence Tsao. Tsao pointed out that there is a chance that last-minute changes to the date could occur owing to unanticipated events.
