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Blog

Date:
18th Dec 2020
Author:
CryptoAltum Research Team

Ethereum’s Beacon Chain mainnet now locks over $1 billion


Eth2 Beacon Chain mainnet, the foundation of Serenity, that runs parallel to Eth1, will be the most decentralized network by validator count. There is now over $1 billion worth of ETH (over 1.5 million ETH) locked in the official deposit contract. Investors are flowing to Ethereum for its superior yields exceeding government notes and corporate bonds.


Details: 

Analysts now believe Eth2 Beacon Chain mainnet is like a digital bond that now holds over $1 billion in ETH. At this rate, once live, the Proof-of-Stake blockchain will be the most decentralized, even exceeding Bitcoin’s by full node count. Over time, annual APR will drop but at present rates, yields are attractive enough for conservative firms, looking for ETH exposure to channel their funds for decent, assured yields between 15-20 percent. With the network attracting more capital, it also means investors are confident with its prospects, banking on its developers to switch off Proof-of-Work and activate PoS. 


Impact on the ETH Price: 

Bullish. The hallmark of any successful public chain is utility and participation from the community. Ethereum has both and even if prices shrink, falling from spot rates, dApps and other programs relying on the base layer will operate without hitches since it is satisfactorily decentralized and technically secure.


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