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The number of Ethereum addresses with more than or equal to 32 Ethereum (ETH) Is declining, indicating that there may be a lack of interest between traders and investors to become a “full verifier” of the upcoming proof-of-stake blockchain.
At the same time, the price of ETH recovered above $4,000 on May 14, while Bitcoin (Bitcoin) Try to get back $51,000 after this week “Elon Candle” plummeted.
Want an Eth2 verification program?
On-chain data analysis platform Glassnode revealed that the number of externally owned Ethereum addresses (EOA) dropped to the lowest level in the past 17 months, dropping to 108,915. As of November last year, this number was approximately 127,500.
Glassnode analysts regard Ethereum addresses with at least 32 ETH tokens as “potential validators” on the Eth2 blockchain. To recap, in the upcoming Ethereum anti-counterfeiting protocol, users need to deposit at least 32 ETH to become a complete node validator. In this way, ETH creditors will be responsible for storing data, processing transactions, and adding new blocks to the Ethereum blockchain.
The staking function is designed to ensure the security of the Ethereum network, while ensuring that entities that invest capital to achieve courage receive consistent ETH rewards. It further demonstrates that the goal of Ethereum developers is to make users’ public ledgers cheaper, faster, and more scalable-in short, to ensure the transition from an energy-intensive proof-of-work agreement to a proof-of-stake-based agreement. Recognition by the community.
This Eth2 smart contract It was launched on November 4 through the “Beacon Chain Upgrade”, and sought at least 524,288 ETH to reach the so-called founding threshold, which proved participants’ agreement to upgrade the Ethereum blockchain to proof of equity. As of May 14, 0940 GMT, the total amount of smart contracts is 4,563,074 ETH. Only 37 minutes before this article was written, a Kraken address became a full validator on the Eth2 network.
Only rich
For many retail investors, becoming a full validator of the Ethereum network is still a daunting task, as it requires them to first buy 32 ETH or $128,000 at today’s price.The cost of buying an ether is Increased by nearly 900% Since the self-confidence standard chain upgrade.
Glassnode data (see the first image) shows a significant correlation between more than 32 ETH holders and the Ether spot price. They are opposite to each other, reflecting the decline in investor interest in becoming a full node verification program. Instead, they anxiously hope to quickly profit from the continued bull market in the entire cryptocurrency market.
But this does not mean that Eth2 lacks new focus. The project enables small stakeholders to pool their ETH assets together through third-party services. In turn, the collective fund deposits 32 ETH into the Eth2 smart contract.
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