Ethereum 2.0 (ETH 2.0) deposit contract surpassed 50% of staked ETH needed for the Phase 0 launch, as the coin’s price rallies. (Updated at 14:33 UTC with the latest market and deposit contract data).
The price has been surging this past week, surpassing the USD 500 level on Friday for the first time in more than two years. On Monday, it surpassed the USD 600 level. At the time of writing (16:26 UTC), ETH trades at USD 602 and is up by 13% in a day and 31% in a week. It rallied by 41% in a month and 296% in a year.
ETH is the third-best performer among the top 10 coins today only after XRP (+23%) and cardano (ADA) (+15%). Bitcoin (BTC) is up by almost 2%, trading at USD 18,557.
Meanwhile, the situation has been developing further on the deposit contract front. On November 22, an ‘eth2validators’ Twitter post announced that “ETH2 Deposit Contract has reached 50%!”
Higher $ETH prices leading to more and more $ETH getting staked which leads to higher price floors which leads to higher $ETH prices which leads to more and more $ETH getting staked which leads to higher price floors. pic.twitter.com/wtGpwyzlHJ
— Loma (@LomahCrypto) November 23, 2020
And as the price was going up and the contract was getting filled, whales have been moving millions in their ETH, according to Whale Alert, with developer Anthony Sassano also noting the massive movements a couple of days ago.