Deposit Contract Live
Many Ethereum advocates and fanatics have been eagerly awaiting this day and it has finally arrived. Although ETH 2.0 is not fully launched and may take some time to actually be completed, ETH holders can begin staking their 32 ETH to start earning rewards. Rewards can currently be earned but community members taking part are unable to withdraw their funds until much later on. This will obviously attract a rather niche investor who is not looking to receive or spend their earnings immediately but rather increase their stack of ETH over time.
This may seem rather viable for many OG wallet holders who have significant amounts of ETH just lying around doing nothing. While the amount of ETH staked remains below a million, staking can yield as much as 21% but decreases significantly once that level is breached.
In order for ETH 2.0 to launch, there needs to be 524 288 ETH staked in the deposit contract. If this amount is not reached, the phase 0 launch will be delayed. There is approximately 34 000 ETH staked as I am writing, which suggests that close to 8% of the required amount has already been attained in less than 48hrs.
Ankr Price Surges
As I have mentioned in a number of previous posts, I am hodling ANKR well into 2021 as a leveraged play on ETH 2.0! Ankr will provide staking solutions for members of the community who do not own or have access to 32 ETH. This is a hefty requirement that will exclude a lot of people that would have otherwise chosen to stake. Ankr makes this possible and removes the barrier of entry.
Although staking is live, the official launch date is in December and upon the news of the deposit address going live, ANKR surged more than 30% on the day. This is very bullish, considering the Stkr protocol is yet to be launched and hints at the possible gains to come once Ankr is actually being utilized to stake ETH.
Let's see how this journey unfolds, as it is a very significant catalyst for further price appreciation in 2021. Regardless of what some may think, a successful launch will be very bullish for the entire Crypto market.
Useful Links
- ETH2 Launch Pad
- Ankr Web 3.0
- Official Ethereum Twitter Account
