[Taklimakan Blog] Ethereum 2.0 Has Already Invested $4.1 Billion

Elena Jefferson
2 min readFeb 4, 2021

Analyst company Glassnode announced a new record associated with the first altcoin

The number of Ethereum coins that users have invested in the ETH 2.0 contract has reached a new all-time high. The total amount of funds at the current exchange rate approached the $4.1 billion mark.

Glassnode announced the achievement of another record related to Ethereum and its depository contracts in its Twitter account. The tweet recalled that the previous maximum was set on January 29, 2021, when the total value of blocked assets was $4 billion.

Why block ether within a contract?

The transition of Ethereum to the PoS algorithm (receiving benefits from storing coins) requires the presence of validators, each of which undertakes to place 32 ETH in a deposit contract.

These tokens will then be used to secure and manage the parallel Ethereum blockchain to test a new consensus algorithm that all of Ethereum will eventually transition to. Blocked ether cannot be withdrawn from the deposit contract until Ethereum 2.0 is fully launched.

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Elena Jefferson

Creator. Food aficionado. Music guru. Travel practitioner. Hardcore bacon fan. Alcohol buff. Crypto blogger on Taklimakan.Network.