Over 3% of Ethereum Supply locked up in ETH 2 deposit contract

Ethereum Network Congestion

In the ETH 2 deposit contract is embedded locked in  over 3% of Ethereum supply. At a price of $1850 per Eth, it means that that what is locked in ETH 2 is about$6. 37 billion worth of ETH.

The chain has put so many skeptics to rest b  that thought there will not be any real transaction with it, by having over 107,000 validators, which roughly adds around 670 new ones to each day,

Earlier today, the price of ETH recovered above $1800, because of the progress towards scalability of ETH 2

Anthony Sassano, a popular Ethereum supported has opined that many of them are looking at the rising Ethereum price as a signal from the market that the fundamentals of ethereum network is valued and also the pricing in it.

According to Anthony, the next major thing that Ethereum community will be celebrating in a big way is deployment and adoption of various layer 2 solutions like Optimism, Arbitrum, and Immutable X. He added:

“We’ll soon be able to monitor how much ETH is being burned once EIP-1559 is deployed – very exciting times ahead!”

 

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