ETH 2.0 Staking Nears 7M ETH, Totaling $21.7B in Value

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The Ethereum 2.0 staking platform continues to see a slow grind to seven million ethereum being staked.

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Ethereum 2.0 staking has continued to see its total number of ethereum being staked increase. The gradual climb is nearing seven million ethereum. Currently, the launchpad states that 6.9 million ethereum is being staked. The cumulative value of ether being staked has soared to a massive $21.7 billion in total value. 

The surge in price can be credited to ethereum’s recent price rally. Just three weeks ago the total value being staked saw 6.6 million ethereum locked, with a value of $14 billion in locked value. 

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Currently, the platform has added nearly 9,000 additional validators since three weeks ago. Currently there are a total of 208,995 validators on the platform. 

ETH burned breaks 46,000

While ethereum being staked continues to climb. The total amount of ethereum that has been burned since the upgrade now totals 46,018 at the time of writing. The total ethereum burned now equates to $144.96 million in value. 

Ethereum ETF incoming 

While ethereum continues to see an increase in popularity and usage, Delaware-based Kryptoin Investment Advisors have filed for an Ethereum exchange-traded fund with the U.S. Securities and Exchange Commission on Aug 12. The application becomes the third application for an ethereum ETF this year. However, the SEC has continued to drag its feet on approving ETFs. 

Ethereum’s transaction volume has managed to exceed bitcoin volume for the first time ever. In a shareholder letter on its performance in Q2 2021, Coinbase revealed that transaction volumes for ethereum exceeded bitcoin for the first time. Following nearly an entire month of upward momentum, ethereum managed to hit a three-month-high of $3,337 before seeing a slight correction over the weekend. 

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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