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ETH 2.0 staking has passed 200,000 validators, with over 6.6 million ETH currently staked, for a total of over $ 14 billion.
ETH 2.0 staking continues to see an increase in the number of validators added to the staking platform. In just under four weeks, validators have gone from around 180,000 to 200,121 validators today. The addition of over 20,000 new validators has seen the amount of staked ethereum continue to increase as well.
As previously reported a month ago, the staking platform for ETH 2.0 held 5.91 million Ethereum, or $ 12.7 billion at the time of writing. Currently, the staking platform now holds 6.6 million ethereum, worth $ 14 billion.
ETH adoption continues
The popularity of Ethereum continues to be adopted across the industry. Most recently, the Ethereum 2.0 chain merger proposal was approved. The move officially kicks off the process of upgrading the Ethereum network from its current proof-of-work chain to the much-anticipated proof-of-stake consensus mechanism.
With the Ethereum London fork rollout slated for August 4, the highly anticipated EIP-1559 will burn gas fees after changing the current auction mechanism. The inclusion of basic transaction fees will be included in the next block. This will allow users who wish to prioritize their transactions to add a “tip” in order to speed up transactions.
Additionally, upgrades, including full proof-of-stake rollout next year, are expected to introduce a deflationary effect on ETH’s supply.
Buterin wants more utility for ETH
Ethereum founder Vitalik Buterin also recently commented on the state of decentralized finance (DeFi) within the Ethereum ecosystem. Buterin was speaking at the EthCC conference in Paris, saying: “The decentralized space is simply a bigger delta of centralized finance than it is other centralized things.” Buterin went on to add that he would like to see Ethereum be used for more than DeFi. Buterin wants Ethereum to be more of a utility pilot, and price shouldn’t be a primary factor. “The price is good, but the price should never be a consequence of utility,” he said.
Ethereum recovers more than $ 2,000
Ethereum managed to track bitcoin to recover from this week’s decline. The price fell to $ 1,706 before five days of bullish momentum saw the price climb back above $ 2,000. At the time of writing this article, Ethereum is at $ 2,112.
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