Ethereum 2.0 Deposits Surpass 2 Million ETH

ethereum2.0 deposits surpass 2 million eth dec 2020

There’s now more than two million eth locked in the new ethereum 2.0 Proof of Stake (PoS) blockchain less than a month since it went live on December the first. The deposit contract currently holds 2,010,466 eth with staking deposits accelerating recently as can be seen above. That accounts for about 2% of ethereum’s total supply which is now locked out of circulation for at least two years. We can now see deposits from Kraken and Bitcoin Suisse which are periodically being made and that means we can analyze them to see what they’ve been doing. The Kraken address for example shows a cyclical process where presumably they wait until a certain level of deposits are in their address to then start the process of sending them to ethereum 2.0. Alternatively, it may well be that more eth is being sent to Kraken for staking than they can send to…

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