The cryptocurrency exchange Gemini expressed full support for Ethereum 2.0 trading and staking. New York-based cryptocurrency exchange Gemini announced plans to launch Ethereum 2.0 Staking as soon as possible.
According to an official announcement on 17 December, Gemini plans to provide all its customers with an opportunity to earn from the latest network upgrade of Ethereum. The firm also expressed support for the Ethereum community.
Ethereum 2.0 staking has grown significantly since the launch of Beacon Chain at the start of this month. Before the launch of Beacon Chain the ETH community had staked almost 900,000. This is far more than the 524,288 ETH required.
Etherescan’s latest data shows that Ethereum supporters have staked over 1.5 million ETH, with a total worth of approximately $1 billion.
“This month saw the historic launch of Ethereum 2.0 Phase 0. Although the implementation of Ethereum 2.0 (Eth2) is still in progress, we intend to provide Eth2 trading support and staking as soon possible. Ethereum is an innovative blockchain which has helped push decentralized applications forward, such as decentralized finance (DeFi). “We look forward to continuing support to the Ethereum community as Eth2 transitions to its next milestone, so that all of our customers have the ability to access the latest developments and earn from them,” Gemini stated in the official post.
With the introduction of Beacon Chain, the Ethereum network has already begun to shift from its current proof-of work network to a more efficient proof-of stake network. The start of a large-scale upgrade in the Ethereum network has already attracted many institutional investors. Michael Sonnenshein, Managing Director at Grayscale Investments reported a growing interest in Ethereum related investment products. The network efficiency of Ethereum is one reason for growing institutional demand. Ethereum as an investment vehicle is gaining the attention of several Wall Street giants.