Ethereum Records $21.7 Billion Worth of Staked Coins Ahead of ETH 2.0

Azeez Mustapha
15 August 2021 | Updated: 15 August 2021

The deposit contract for Ethereum 2.0 continues to record steady increases as the total number of Ether staked reaches a significant high. The launchpad currently boasts a total of 6.9 million Ether staked, with a cumulative value of a whopping $21.7 billion (at current prices).

The surge in staked ETH stems primarily from the recent climb in the price of Ethereum and the broader bullish sentiment. The network reportedly added about 9,000 new validators over the past three weeks. At press time, the total number of validators on the platform rests at 208,995.

As the number of ETH getting staked on the Ethereum 2.0 deposit contract continues to increase, the total number of ETH that has gotten burned since the London Hard Fork now totals 46,018 (worth approximately $145 million).

New Ethereum ETF Filing with the US SEC

Meanwhile, as the second-largest cryptocurrency continues to grow in mainstream use and institutional adoption, Delaware-based Kryptoin Investment Advisors has reportedly filed to develop and offer an Ethereum exchange-traded fund (ETF) with the US Securities and Exchange Commission last Thursday.

This application becomes the third ETH ETF filled for in 2021. However, the SEC appears not like the idea of ETFs, as it is yet to approve any.

In other news, Ether‘s transaction volume has surpassed that of Bitcoin’s for the first time in history. Coinbase revealed the new development in a letter to its shareholders on its Q2 2021 performance.

As mentioned earlier, the price of Ethereum is faring positively and has maintained a bullish outlook for the past few weeks now. The cryptocurrency recently peaked at a three-month high of $3,333 yesterday before posting a mild correction today.

 

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.