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Date:
09th Nov 2020
Author:
CryptoAltum Analytics Team

Vitalik Buterin Contributes 3,200 ETH to Eth2 Deposit contract

The co-founder of Ethereum, Vitalik Buterin, has contributed 3,200 ETH according to data from Etherscan. Over 512k ETH and 62,000 validators are required for Phase 0 of Eth2 to go live, ushering in a period of ETH staking and a consensus algorithm shift in the medium term.


Details: 

The contribution from the co-founder shows just how determined Vitalik and the Ethereum Foundation team is. Each validator should contribute 32 ETH and with their cumulative efforts, the community will progressively towards making Eth2 a reality in the next two weeks before Dec 1, 2020 activation date. If the threshold is met, the odds of ETH prices rallying to new highs will be elevated.


Impact on the ETH Price: 

Bullish. Phase 0 is the primer for an Ethereum staking model where the price of ETH will partly determine how secure the network is. The higher its price, the more secure Ethereum is against would-be attackers.


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