Almost 10% of the Total Ethereum Supply Staked in ETH2 Deposit Contract
An ETH2 merge is also expected at the end of Q2, bringing with it an increase in yield for staking ETH. With more stakers entering the network, the amount previously earned by miners will now go towards the former type of validator, naturally increasing their revenue.
The merge is a huge development that will turn Ethereum into a deflationary asset, bringing a lot of buy pressure that has investors hopeful. There have been multiple signs and discussions about a potential massive change following the merge.
The crypto community carried out an analysis on the triple-halving that the Ethereum merge would bring. Bear in mind that Ethereum will undergo a 90% cut of daily emissions from 12,000 Ξ a day to 1280 Ξ, while rewards for PoS validators will go up from 4.5% to 10–15% in the months after the merge.
I think word is getting around about staking $ETH! 302,000 ETH waiting to activate.
Pending $ETH waiting to activate validators for #Ethereum is working on a new all time high! Check-out this chart for the last year and where we're at today.👀
ETH is Ultrasound money 🦇🔊 pic.twitter.com/mlvVxnDPaV
There is also more ETH arriving on the horizon, as the amount of ETH waiting to activate is moving towards a new all-time high. The current number of daily active validators is about 315,700, the highest its ever been.
Ethereum Prospects Look Bright
With so many critical developments happening, and signs of growth across a lot of metrics, investors are unsurprisingly bullish about the Ethereum token. ETH has gained about 5.2% in a day, but a much stronger gain over the following weeks is potentially on the table.
And it seems to have worked 🎉 Post-merge blocks are being produced by validators, and they contain transactions! https://t.co/xearnsuZFp
Just waiting on finalization now 👀 https://t.co/BEfJOI4qqj pic.twitter.com/c4p1UXB5vw
The merge has successfully taken place on the Kiln testnet and was celebrated in the Ethereum community. Later this year, it should hit the Ethereum mainnet, and this would mark one of the biggest successes of ETH2 development, finishing the transition to Proof-of-Stake.
Being such a big year for the asset and a huge positive change in terms of speed and cost, ETH could possibly even reach all-time highs. In any case, it is set to be a transformative year, even if the price doesn’t go quite where some analysts believe it will. Proof-of-Stake will boost a network that is vying against multiple other networks in a lot of niches, and which is comfortably the dominant DeFi network despite shortcomings in cost and speed.
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