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ETH 2.0 might almost be upon us......

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Avatar for Don_Christov
Written by   35
3 months ago

I find it very funny when I see a lot of newbies and even some guys who have been into Crypto for a while talk about Ethereum 2.0 but they really don't know or understand what it is. They don't know the shortcomings of Ethereum 1.0 neither do you know the features of Ethereum 2.0 and what it hopes to achieve and I've seen some hint that Ethereum 2.0 will reduce gas fees. This post though is not to explain what both are, I might consider going in-depth into both of them in another post.

But for now it's a really good time to be holding Ethereum as news coming out suggests that Ethereum 2.0 could be launched as early as December 1st. After almost 4 years of wait it seems it's about time to get ETH 2.0 on the road, 4 years of wait, of failed promises, of shifted deadlines and many more from the guys at Ethereum.I personally expected it to launch sometime next year with all the delays and postponements but we'll see if there will still be another twist in this tale.

The deposit contract was launched earlier today for users to deposit the required 32 Eth for staking and under 8 hours, the address already had over $5m staked which amounted to just over 14,000 ETH. ETH 2.0 chain genesis might take place on the 1st of December if a total of 524,288 ETH or about $200 million worth is staked. That is at least 16,384 users depositing of 32 ETH each. I think that is very possible for Ethereum to achieve.

With the news out and staking commenced, price seems to have been positively impacted as we saw Ethereum cross the $400 mark for the second time in just under a month. And more than that, it does seem that the number of Ethereum addresses holding at least 32 Ethereum has hit an all-time high (ATH) of 126,852. Also the number of addresses holding 0.1 ETH and above seems to also have increased and hit and All Time High (ATH) according to data from Cointelegraph.

These sure are exciting times to be holding Ethereum it would seem. I'm pretty excited for what the future holds, but more than that I hope this surge of life has a positive on altcoins too.

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Written by   35
3 months ago
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