Almost 2.5% of Ethereum’s circulating supply is blocked in the ETH 2.0 staking contract.
The billions of dollars blocked make Ethereum the fourth largest blockchain network by staking value.
Ethereum Staking Currently Offers 10.28% Per Year Return
Ethereum 2.0 launched in late 2020 and has seen steady growth across the board.
Even before reaching a new all- time high for the first time in three years, Bitcoin Superstar was one of the most discussed cryptocurrencies and blockchains in the industry.
The ETH 2.0 staking contract (the deposit address containing ETH dedicated to validating its new proof of stake network) has reached a new stage. It now holds around 2.4% of the total supply in circulation, exceeding the $ 2.8 billion in total value put into play on the network.
Oppose the competition
Just under three percent of the total Ethereum supply currently in circulation is network staking. ETH remains the fourth largest blockchain network in terms of value.
Ethereum currently lags behind Polkadot, Cardano, and Avalanch, which each hold $ 9.7 billion, $ 7.8 billion, and $ 3.2 billion.
With an estimated current value of 10.28% as determined by Staking Rewards , Ethereum also offers one of the most attractive rates of return compared to its competition. Only Avalanche and Polkadot have slightly higher returns of 11.07% and 13.83% respectively.
What is Ethereum 2.0?
Ethereum 2.0 is the migration of the Ethereum network from a Proof of Work (PoT) to Proof of Stake (PoA) verification method . The transition of protocols facilitates the involvement of the average user, due to the decrease in dependence on specialized computing equipment and large amounts of electrical energy.
This change also brings other fundamental benefits to the network. Ethereum’s goal, when the full mainnet and all of its capabilities are realized, is to increase the speed of transactions while lowering the cost per transaction.