Cryptocurrencies

Ethereum 2.0 becomes 4th staking network and continues to grow – Cryptocurrencies

ethereum staking 2.0

Apple is therefore not the only one capable of creating queues in front of its Apple Stores when launching a new product. Vitalik Buterin and his team have they bitten into the apple to know his secrets ? Ethereum (ETH) 2.0 has been able to make investors languish enough, who are now flocking to staking ETH2, at the risk of seeing their ETH blocked for several months or years.

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Patient investors

According to data published by Staking Rewards, Ethereum is now the 4th largest staking network on the market in terms of total blocked value (TVL).

Approximately 6 weeks after the publication of the deposit contract of ’ETH2, 1.5 millionETH worth approximately $ 1 billion, would be blocked for staking. This value would represent around 1.35% of the total supply in circulation.

Current compensation is approximately 13.20%; a staking of 32 ETH would earn remuneration of $ 2,572 at the current price of theETH at 609 USD.

Investors were not put off by the fact that withdrawal operations will not be available for ETH2 before a long time.

At the moment, we cannot put forward a precise date for the actual deployment of theEthereum 2.0 ; it might take a few months as well – even if it is unlikely – only a few years

Staking: the new and old Ethereum on the podium

The first staking network is currently Polkadot (DOWRY), whose founder, Gavin Wood, had participated in the design ofEthereum.

Since the launch of its mainnet in May 2020, tokens allocated to staking represent 61% of the total supply in circulation.

Cardano (ADA), which is run by another co-founder of Ethereum, Charles Hoskinson, also landed a place on the podium with 65% of tokens in circulation blocked for staking, for a TVL close to 3 billion dollars.

Tezos (XTZ) and Cosmos (ATOM) are among the most popular protocols on the market, with pay rates assessed at 5.50% and 8.77% respectively.

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According to data from Staking Rewards, the tokens placed in staking for these 2 protocols represent 79% of the total supply for Tezos and 71% for Cosmos.

Are investors ignoring or ultimately giving little importance to the technical challenges that still await developers for the effective deployment of ETH2? Passive income in ETH + a probable explosion in the price of ETH in 2021: enough to convince even the most hesitant?

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