One Percent of Ethereum Supply Already Staked, 6% in DeFi co-founder Vitalik Buterin

Bob Coiney

December 8, 2020

According to co-founder Vitalik Buterin, more than 1% of the Ethereum supply has already been staked on the deposit contract.

A news publication on Beincrypto claimed that the staking of ETH 2.0 was slow because more than 1% of the supply was already staked on the deposit contract last month. However, they were not able to reach the target; the new blockchain is launched as planned on December 1st.

Vitalik Buterin, a co-founder, said that despite the one percent already staked in the deposit contract, it is doing “better than I expected.” The Ethereum 2.0 Launchpad is below the 1.1 ETH that is deposited in generating 14.6% annual percentage for stalkers. 

According to Beaconscan, there are under 35,000 validators for the moment in the ETH. BeInCrypto, which is a news platform for crypto had this to tweet about the Ethereum supply already staked. 

The supply of Ethereum is around 113 million ETH, and more than 1% had been staked for now. The co-founder said the total was close to 113 million ETH that includes the stuck as well as the lost funds. 

A news report on DeFi Pulse claimed that less than 7 million ETH are locked in different DeFi protocols, and it comes to around 6% of the total supply. The staking was done manually; however it is expected that centralized exchanges may begin giving delegated staking services.

The holders need to have a stake less than the 32 ETH to become a validator. Most of the transactions, which include smart contract operations, decentralized applications can still run using the ETH 1.0 chain.

It will happen until ETH 1.0 and ETH 2.0 get merged, which may occur in 2022; stakers may get the highest awards that can decrease with time. That is because more ETH will get staked.

At the moment, the prices of ETH were below $600. Last week on Friday saw it plunging to the $560 mark. It seems to form a consolidation channel that ranges in the $590. Another decision may be made by Bitcoin if it can break $20000.

The ETH has found it difficult to go beyond the $800 range as it often finds itself just short of it.