Number of Ethereum addresses with 32+ ETH at an all-time high

Data from analysts Glassnode shows that the number of Ethereum addresses with more than 32 tokens is at an all-time high.

Since 2016, the number of addresses with 32 or more tokens has grown in line with the rise in the price of Ethereum. But this started to level off during the bear market start in January 2018.

Sudden interest at the end of June 2020 saw a sharp vertical leap as this figure increased by 5%, from 116,000 to 123,000 accounts, in less than a week.

About four months later, the current number of accounts with 32+ Ethereum is just under 125k.

Source: glassnode.com

Ethereum 2.0 being launched 0

The long-awaited first phase of Ethereum 2.0 is slated to launch later this year.

Also known as Phase 0, this critical step will initiate the Beacon Chain and enable the Proof-of-Stake consensus mechanism.

However, during this phase, the full functionality of the Beacon Chain is limited as the fragment chains are not online and will not be until about a year after the launch of Phase 0.

“It won’t be fully operational right away because there will be no chains of shards, so there will be nothing to keep in sync besides itself. Remember, the main role of the beacons chain in Eth2 is to make sure that all fragments have the most up-to-date data. “

Nonetheless, limited staking functionality will be available in Phase 0. But Ethereum staked during Phase 0 is blocked until the shards are online.

The requirement to become a validator, in phase 0, is to wager at least 32 ETH by depositing in the official deposit agreement of the Ethereum Foundation.

Some users have expressed reluctance to block their Ethereum for a full year (approximate current value of $ 13k). But the Consensys developers claim that doing so has the potential for higher block rewards.

“ETH holders wishing to bet do not need to stake during Phase 0: they can join the network as validators whenever they wish. However, unlike other ETH holders who have to wait until Phase 1.5 to see their ETH on the Ethereum 2.0 chain, validators can commit their funds to the blockchain starting from genesis. The incentive is the potential for higher block rewards. “

Latest update from lead developer Danny Ryan

Lead developer Danny Ryan said Ethereum 2.0 Phase 0 will be rolling out in the coming weeks, which is good news for investors who have had to endure several false starts and failed testnets.

Speaking recently on the Bankless podcast, Ryan said the team has completed most of the work. But it is a question of completing all the outstanding issues.

“We are in the final stages of preparations for mainet due to these positive signals from testnet. At the same time, tying various outstanding issues, which we will overcome. This is the state. “

Considering the 32+ ETH account model, it’s clear the community is hungry to get started.

Source: ETHUSDT on TradingView.com