• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Ethereum Supply Locked In Staking Contract Passes 10% Milestone

Hououin Kyouma by Hououin Kyouma
3 weeks ago
in Ethereum
0

Data shows Ethereum staking has passed another milestone as more than 10% of the total ETH supply is now locked within the contract.

Around 12 Million ETH Is Now In The Ethereum 2.0 Deposit Contract

As pointed out by an analyst in a CryptoQuant post, the ETH staking rate has observed further surge recently, taking the metric’s value to 10% of the total supply.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

In case anyone’s not aware of what “staking” is, it’s best to take a look at the “proof of stake” (PoS) consensus system first.

In cryptocurrencies using the PoS framework, network validators (called the stakers) need to lock in a minimum amount of the crypto into a contract (32 ETH in case of Ethereum) to participate in the consensus system.

The network then randomly chooses one of the stakers to sign the next transaction (stakers with the higher staked amount have a better chance of being chosen).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Related Reading | Bitcoin, Ethereum, Other Coins Now Supported By Argentina’s Biggest Private Bank

This is unlike proof of work (PoW), where miners require a high amount of computing power to compete with each other to sign the transactions.

Since mining machines can have a negative impact on the environment, PoW cryptos have increasingly come under scrutiny recently.

However, as PoS networks don’t require validators to have any high power hardware, they are by design more environmentally friendly.

The Ethereum “staking rate” is a measure of the percentage of the total ETH supply currently locked into its staking contract.

The below chart shows the trend in the indicator over the past couple of years:

Ethereum Staking Rate

Looks like the metric has observed sharper uptrend in recent months | Source: CryptoQuant

As you can see in the above graph, more than 10% of the total Ethereum supply is now locked into the staking contract.

Related Reading | EPA Vs. Bitcoin: Dorsey, Saylor, Others Oppose Lawmakers’ Call For Action Vs. Crypto Mining

More coins being locked into the contract can prove to be a bullish sign for the crypto as investors staking are usually in it for the long haul, and are thus unlikely to sell.

Ethereum Price

At the time of writing, ETH’s price floats around $2.8k, down 5% in the last seven days. Over the past month, the crypto has lost 17% in value.

The below chart shows the trend in the price of the crypto over the last five days.

Ethereum Price Chart

The price of the crypto seems to have mostly moved sideways over the last few days | Source: ETHUSD on TradingView

Ethereum has been struggling for quite a while now, as has been the rest of the crypto and financial market. At the moment, it’s unclear when the coin may see any significant recovery.

Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Ethereum

Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance

17 hours ago
Terra

Terra Flaw: Ethereum Creator And Binance CEO Slam Terra Via Twitter

5 days ago
Stablecoins

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

7 days ago
Terra

Terra TVL Crumbles More Than $14 Billion

1 week ago
Dogecoin crypto

Data Shows Top Coins Among Most Hated Crypto, But Not Dogecoin

1 week ago
Ethereum whales

Altcoin Discount: What Ethereum Whales Are Buying Through The Dip

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.