The Ethereum 2.0 staking deposits have crossed 60% of the threshold required for the Ethereum 2.0 upgrade. Ethereum Foundation core researcher Danny Ryan had revealed the amount of ETH to be deposited in the contract for a successful upgrade. In total, the upgrade requires 524,888 ETH deposited a week before its official launch on the 1st of December.
Over the past three days, the deposits have grown significantly. However, more ETH is still needed for the launch.
At press time, Dune Analytics data that the available threshold percentage is 64.64%. The amount of deposited ETH is up to 340,864 from 1,060 “unique depositors.” Going by Dune Analytics, the contract still needs about 184,024 ETH to meet the upgrade’s required amount of ETH.
Ethrescan analysis that there are still pending transactions from about 25 addresses. According to Etherscan, the contract has pulled in 360,352 ETH since staking started.
Hopes are high as the contract must meet the required amount of Ether before the 24th of November. If the required ETH is not deposited by then, the upgrade may be postponed again.
However, if the threshold hits 100%, the Beacon Chain will go live. Once the multi-phase upgrade is completed, the Ethereum network will move from a proof-of-work model to a proof-of-stake system.
