Analysis of recent deposits to the Eth2 contract address reveals the number of individual validators is on the rise.
Seven weeks after the launch of Ethereum 2.0’s beacon chain and 2.25 million ETH has been deposited into the ETH2 contract address, signaling growing confidence in the long-awaited rollout of ETH2.
More than 66,360 beacon chain validators have been created as part of Ethereum’s transition from Proof of Work to Proof of Stake.
Data provided by smart contract experts at Dune Analytics suggests that more ETH is now being staked by individual contributors than single addresses with large balances, which had dominated flows to the Eth2 contract throughout December and the first half of January.
my takeaway: the combination of proficiencies and crosspollination leading up to the complete merge is going to be awesome to see"eth1 devs on user-layer optimizations and stability""eth2 devs on sophisticated proof-of-stake consensus" https://t.co/OW8Kcm6I4E— trent.eth (@trent_vanepps) January 20, 2021
The dollar amount of ETH deposited into the Eth2 contract stands at approximately $3.75 billion, or 2.5% of Ethereum’s total market cap, with 4,864 unique depositor addresses contributing to the total amount of ETH staked on the new network.
The state of Eth2
In a post titled "The State of Eth 2," Ethereum Foundation researcher Danny Ryan recapped progress made in 2020 and painted a picture of things to come in 2021.