The number of Ethereum addresses holding 32+ ETH is at an ATH – This must come from information from Ethereum 2.0
According to Glassnode, the number of Ethereum addresses holding more than 32 ETH is at an all-time high. Since 2016, the number of addresses that own 32 ETH or more has increased with the rise of Ethereum. But this began to stabilize when the bear market appeared in January 2018. Sudden interest in late June 2020 saw a sharp jump as numbers skyrocketed 5%, from 116,000 accounts to 123,000 accounts in less than a week. This must come from information from Ethereum 2.0.
Number of Ethereum addresses with more than 32 ETH | Source: Glassnode
Ethereum 2.0 is about to arrive at the phase 0 implementation
Ethereum 2.0’s long-awaited first phase is slated for launch later this year. This is also known as Stage 0 – the stage where the platform will initiate the chain of signals and activation of a Proof-of-Stake consensus.
However, during this phase, the Beacon Chain’s full functionality is limited as the segment chains are not online and will have to arrive about a year after Phase 0 implementation.
The notice states:
“It won’t work completely right away because there won’t be any sharded chains, so there will be nothing to keep in sync other than itself. Remember, the main role of the beacon chain in ETH2 is to guarantee. make sure all segments have the most up-to-date data. ”
However, limited staking functionality will be available during Phase 0. But Ethereum staking during Phase 0 will be locked until the segments go online. The requirement to become a validator, at Stage 0, is to stake at least 32 ETH by depositing in the official Ethereum Foundation escrow contract.
Some users have expressed reluctance to lock Ethereum for the whole year (current value is approximately $ 13,000). But Consensys developers say doing so has a higher chance of getting the block reward.
The notice states:
“ETH holders who wish to stake do not need to stake during Phase 0: they can join the network as a validator whenever they wish. However––unlike other ETH holders who have to wait until Phase 1.5 to see their ETH on the Ethereum 2.0 chain––validators can commit their funds to the blockchain starting at genesis. The incentive is the potential for higher block rewards.”
Latest update from developer Danny Ryan
Core developer Danny Ryan has stated that Ethereum 2.0 Phase 0 is coming in the coming weeks. This is good news for investors who have suffered many false starts and failed testnets.
Speaking recently on the Bankless podcast, Ryan said the team had done the majority of the work:
“We’re kind of in the final preparations for mainnet because of these positive signals from testnet. At the same time, tying up various loose ends, which we’ll get through. That’s the status.”
Considering the account model holding more than 32 ETH, it is clear that the community is longing for and waiting for this Phase 0 of Ethereum 2.0.
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