ETH 2.0 Exceeds 200k Validators, Presently Staking at $14 Billion in ETH

ETH 2.0 staking continues to surge upward as more validators are being added to the staking platform. In less than four weeks, ETH 2.0 staking welcomed between 180,000 to 200,121 validators. This growth of over 20,000 new validators positively impacted the amount of ETH staked on the platform as this also witnessed a significant increase. At the time of writing, ETH 2.0 staking has exceeded 200,000 validators, and the current staking stands at over 6.6 million in ETH, totalling over $14 billion.

As earlier reported a month ago, the ETH 2.0 staking platform held 5.91 million Ethereum worth $12.7 billion value. However, this number has grown substantially, and there are currently 6.6 million ETH on the staking platform, valued at 14 billion U.S. dollars.

Ethereum continues to see widespread growth and adoption thanks to its popularity. Furthermore, developments such as the newly approved Ethereum 2.0 chain merge will upgrade the Ethereum network from the proof-of-work chain to the highly-anticipated proof-of-stake census mechanism. The upgrade will improve Ethereum’s usability, creating a win-win situation for the project and its users.

In his recent remark Vitalik Buterin said,

Price is nice, but price should only ever come as a consequence of utility.

Another scheduled development is the Ethereum London hard fork which proposes to come into effect on the 4th of August. This project will introduce the highly anticipated EIP-1559, which aims to revolutionize the current platform. A unique feature of the EIP-1559 is the inclusion of base fees for transactions, a move that will provide users with the opportunity of speeding up their transactions by simply adding a “tip.”

Ethereum continues to ensure maximum benefits for its community of investors. This is also the vision continually shared by Vitalik Buterin, the founder of Ethereum. He hopes for Ethereum to be more of a utility driver where prices are inconsequential.