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Statistics indicate that over $111 billion worth of ETH tokens have been locked, coinciding with the asset’s resurgence above the $2,800 mark.
Within the past day, the price of Ethereum has reached a height of $2,826 amid the Bitcoin-driven market rally. At the same time, the amount of ETH tokens committed to Ethereum’s staking contract has seen a significant uptick.
Over $111B Locked in Ethereum
According to data from the on-chain analytics platform Nansen, Ethereum validators have locked 30,659,864 million ETH tokens on the Beacon Chain as of February 14.
The intra-day activity increased with a deposit volume of 18,172 ETH, alongside a withdrawal of 197 tokens. Considering ETH’s market value of $2,803, these staked assets wield a monetary value of approximately $86 million.
Although Nansen’s record was last updated seven hours ago, real-time data from Etherscan indicates an even steeper growth trend in the number of tokens deposited into the staking contracts.
Etherscan suggested that the Beacon Chain staking contract now holds 39,140,039 ETH at press time. This figure translates to a more staggering $111,392,405,125 locked by network validators.
The uptrend in ETH Staking
Notably, a chart from Nansen illustrates that the trend in tokens locked on the Ethereum contract has been consistently upward over the past year.
For instance, precisely a month ago, Ethereum’s staking contract had 28.98 million tokens locked, whereas a year ago, the contract contained only 18.4 million ETH.
Essentially, the latest data indicates that the value from last year has more than doubled. However, ETH’s price has not doubled over the same period.
Based on Nansen’s data, the leading Ethereum stakers are Lido Finance, Coinbase, Figment, Binance, and Kraken. Collectively, these validators control over 58% of all staked ETH.
Notably, the Ethereum staking contract was inaugurated in 2020, coinciding with the introduction of the Beacon Chain. It marked the initial phase of a series of significant upgrades known collectively as “Ethereum 2.0.”