Long short story: the price of Ethereum - reaching 600$ - is growing along with the growing of ETH 2.0 deposits contract, required for Beacon Chain deploy.
After a very slow start, the deposit contract is quickly growing: until a few days ago, the deposits required to launch phase zero of Ethereum 2.0 were at a standstill at 24%, but since the news spread that this could lead to a delay in the launch of the new protocol, the deposits have increased significantly. The deposit contract to activate that phase requires that more than 500,000 ETH or $270 million be locked in by the validators. The required amount must be reached by November 24.
According to many sources, around, 300,000+ ETH have been delegated, with a significant spike between around November 22th
As indicated by Eric Conner on Twitter, the amount of ETH staked as of November 15th has increased significantly. Leaving only 210,000 ETH required for Beacon Chain deployment.
As reported by crypto-news-flash.com, it was revealed that at least 3 whales are responsible for about 25% of all staked ETH in the deposit contract. With transactions occurring before the almost parabolic increase in staked ETH, these whales have deposited more than 20,000 ETHs with “15,000 more ETHs on hold”.
Furthermore, there are rumors about crypto giant Suisse Bitcoin ready to invest 100,000 ETH in the deposit contract.
This article was originally posted on Publish0x
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