Ethereum 2.0 deposit contract finally surpasses $25 billion worth of Ethereum! The contract currently has over 7.7 million Ethereum.

Ethereum 2.0 has been talked about as the solution to the rather high Ethereum gas fees. The whole $ETH community isn’t that worried regarding the decline of the world’s second top digital asset.

Ethereum 2.0 Significantly Increased

The latest data from Etherscan shows that the whole Eth community has actually increased the deposit under the new staking contract for Ethereum 2.0 quite significantly over the last few days. According to the story by FinanceMagnates, Ethereum 2.0 deposit contract currently has more than 7.7 million $ETH worth of a whopping $25 billion.

In August of 2021, the overall Ethereum 2.0 deposit contract hit over $20 billion for the first time ever. During the previous weeks, the community has staked over 1.2 million $ETH under the deposit contract of its very own network upgrade.

More and More Ethereum 2.0 drops

The whole network upgrade of Ethereum started back on December 1, 2020 with the launch of its own Beacon Chain. The whole community has staked around 900,000 $ETH and the number reportedly jumped above a million within the period of the first three days of the supposed launch.

The price surge in 4ETH has reportedly played an actual important role in the recent jump of these staked coins under the new deposit contract of Ethereum 2.0. During the Beacon Chain launch, Ethereum was reportedly trading at around $580.

Positive Response to Ethereum

Earlier this September, CEO of Ark Invest, Cathie Wood, reportedly praised the upgraded network of Ethereum. Woor reportedly stated in a conference that their confidence in Ethereum has reportedly gone up dramatically as they have finally seen the start of the transition from the previous proof-of-work to the newer proof-of-stake.

Aside from the institutional public interest, Ethereum’s github activity has also been increasing sharply in the previous weeks. Santiment highlighted recently that the price of Ethereum has reportedly been volatile as of late.

Despite this, it was noted that they are seeing a notable github submission activity for the cryptocurrency with the top 2 market cap assets which has grown back to May rates. It was noted that as of the moment, it is encouraging to see the whole Ethereum team continuing to innovate and also improve.

With the new $ETH 2.0, more and more confidence is coming back to Ethereum!