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Ethereum 2.0 Contract Has Achieved Its ATH , Reaching $34 Billion In ETH

The Ethereum 2.0 Contract is one of the most anticipated moves from the Ethereum (ETH) network’s stables. The ETH 2.0 Deposit Contract was first launched in December of 2020, which is around two years ago. The total amount of money hauled in for the deposit contract has been increasing steadily since its introduction.

Furthermore, the ETH 2.0 deposit contract, also known as the Beacon Chain, establishes itself as the main consensus mechanism of ETH 2.0. After a two-year journey, the deposit contract has reached an all-time high of 8.8 million ETH. In fact, this amounts to almost $34 billion.

The ETH 2.0 Deposit Contract has reached yet another all-time high, despite the fact that the news was only released a few hours ago at the time of writing. The deposit contract received a total of 8.8 million ETH in the late hours of January 3, 2022. This is said to be the highest point in history.

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Additionally, with 8.8 million ETH locked inside the contract, it is estimated that around 7% of the total ETH supply is now locked into the contract. Aside from that, the deposit contract has already met the requisite target value for phase 0 in 2021. Since the contract’s inception in December 2020, the target value for phase 0 has been 524,000 ETH, which was met in 2021. As a result, according to the contract’s current condition, the value has increased by nearly 1500 percent since phase 0.

Even so, in the last six months, the number of deposits has increased by approximately twofold over the prior six months. The depositors estimated to 27,132 in June 2021, but after six months, it had doubled to 59,867. This enormous ATH for the contract has been brought in by the growth in the number of validators.