coindesk.com
Over 9 million ETH are now deposited in the Ethereum 2.0 deposit contract. At today’s price, that is nearly $30 billion in capital looking to secure the proof-of-stake network and gain further exposure to Ethereum’s native asset.
This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its sweeping impact on crypto markets. Subscribe to Valid Points here.
However, those 9 million staked ETH really represent 280,000 active validators providing security, building blocks and ensuring the health of the network. It’s a number that seemingly grows around 1% each week and continues to further decentralize the network.
During August of last year, we wrote about which exchanges, staking pools and other entities were most responsible for a significant portion of validators and noted the top four staking entities on the Beacon Chain made up 36.6% of the total deposits. On Jan. 11, Nansen data shows Coinbase made its way into the list. The top four now cumulatively account for 47.5% of the staking contract, with Lido making a significant jump.
Open comms
Valid Points incorporates information and data about CoinDesk’s own Eth 2.0 validator in weekly analysis. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check out our announcement post.
You can verify the activity of the CoinDesk Eth 2.0 validator in real time through our public validator key, which is:
0xad7fef3b2350d220de3ae360c70d7f488926b6117e5f785a8995487c46d323ddad0f574fdcc50eeefec34ed9d2039ecb.
Search for it on any Eth 2.0 block explorer site.