On February 9, the Twitter account @ eth2validators reported that by that time they had exceeded the goal of 3 million ETH deposited in the Ethereum 2.0 contract.
How is staking going on ETH 2.0?
It is worth remembering that it was in November 2020 that the Ethereum 2.0 deposit contract was launched. At first, many doubted whether they would be able to comply with the schedule, but, in the end, in three weeks they managed to secure the minimum ETH necessary for the launch of the Beacon Chain.
Recall that the minimum necessary was 524,288 ETH and, by December 24 (23 days since the launch of the Beacon Chain), 2 million ETH were already staking on Ethereum 2.0.
In this sense, the Twitter account @ eth2validators reported last Tuesday that the contract would have exceeded the 3 million ETH line. Since then, 45,600 ETH has been deposited, according to the latest update.
While, according to Etherscan data, 3,065,858 ETH are currently deposited.
Has it been profitable?
One of the biggest concerns of crypto investors when referring to ETH 2.0 was that, once deposited, the cryptos could not be withdrawn. Consequently, there was a latent risk given the known volatility of the crypto market.
Certainly crypto exchanges like Kraken and Coinbase reduce the barrier, but we must remember that to be a validator of the Beacon Chain, the crypto user must deposit at least 32 ETH.
So the question is: Has it been profitable? At least for the moment yes. On the one hand, ETH staking offers 9% interest per year, but, in addition, the price of the crypto has recently reached new highs.
In fact, since December 1, the price of ETH has gained roughly 212% from $ 595 to $ 1854, according to data from CoinMarketCap.
However, Ethereum continues to face a big problem: Too much traffic on its network! Just last weekend, ETH mining revenue was $ 3.5 million in a single hour.
So Ethereum 2.0 has become a necessity, but it will take a little longer to arrive. It is worth remembering that we are in Phase 1 and Phase 1.5 (where Beacon Chain is integrated with ETH 1) is expected to occur this year or even next year.