Ethereum 2.0 crosses 200,000 validators and more than $14 billion in ETH is staking

The number of people becoming validators on Ethereum 2.0 (Eth2) has now surpassed 200,000, as well as more than 6.4 million ETH staking.

Staking ETH on Eth2 is still an extremely attractive channel and has continuously witnessed many important growth milestones in recent years. In less than 4 weeks, validators on Ethereum have grown from 180,000 to over 200,000. The significant addition of validators also helps the number of ETH staking continue to soar.

Currently, according to data from Beaconcha.in recorded more than 6.4 million ETH (equivalent to more than 14 billion USD) being staking on Ethereum 2.0.

Ethereum 2.0 already has over 6.4 million ETH staked and 200,000 validators (Source: Beaconcha.in)

Ethereum is still very popular

The popularity of Ethereum continues to be applied throughout the cryptocurrency industry, especially in decentralized finance (DeFi). Recently, Ethereum announced its proposal to “merge with Eth2. This move is the official announcement of the upgrade of Ethereum to the Proof-of-Stake (PoS) consensus mechanism – one of the long-awaited things.

Besides, the upcoming London 4th hard fork implementation and Ethereum proposal EIP-1559 are highly anticipated events. Because many users expect it to burn gas fees after changing the current auction mechanism. The inclusion of the base fee for transactions will be included in the next block. This will allow users who want to prioritize their transactions an extra “tip” to speed up transactions.

Vitalik Buterin wants more utility for ETH

Ethereum founder Vitalik Buterin also recently commented on the state of decentralized finance (DeFi) in the Ethereum ecosystem. Specifically, at the EthCC Conference in Paris, Vitalik Buterin shared that he wants to see Ethereum used more than just in DeFi.

In addition, Buterin wants Ethereum to be a more utility driver, and price should not be a major factor.

“Price is good, but price should only come as a consequence of utility.” – Vitalik Buterin shares his wish for Ethereum.

Ethereum rallied 40% since the bottom on July 20

On July 20, the entire cryptocurrency market witnessed a sharp drop in price as Bitcoin “bleeded” to below $30,000. As the second largest cryptocurrency in the world, ETH is also significantly affected.

At this point, many people joked that “proposal EIP-1559” turned out to be an announcement that Ethereum would drop to $1,559. But this joke did not come true when ETH had a spectacular recovery. As of the time of writing, ETH is trading around $2,364, a 40% recovery from the bottom price on July 20.

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