Ethereum News

ETH 2.0 Vision Meets Another Roadblock But Validators Continue Their March


Ethereum, the largest altcoin has continued to take measures to complete the much anticipated ‘merge’ into ETH 2.0. Although, at first scheduled in June had been postponed. As the thing stands, there is no final deadline for the complete outcome. Nonetheless, it didn’t quite stop validators from staking their share, showcasing their support.

How’s it lookin’ down there?

Well, for starters, despite the ups and downs, the in-transit merge has done huge favors to the largest altcoin network. As the Ethereum network accelerates the shift towards ETH 2.0, investors have geared up for the staking functionality by continuing to deposit Ether.

As of 26 May, the total ETH 2.0 deposit contracts had attained a new all-time high of 12,680,930  ETH, data provided by Glassnode indicates.

Source: Glassnode

The deposit contract is where Ethereum investors sent their ether if they want to stake in the network, and likewise, get rewards. The upgrades are in line with Ethereum’s ongoing transition towards changing the network to a proof-of-stake. The shift is expected to make Ethereum an energy-efficient eco system.

Stay in the know on crypto by frequently visiting Crypto News Today

In addition to this, the number of addresses witnessed a similar scenario given the increase in holders’ capacity. For instance, ETH’s number of addresses holding 100+ Coins reached a 1-year high of 43,297. Even though the said mark didn’t quite match the previous ATH, at least investors remained hopeful.


Here’s another positive sign. The number of Ethereum addresses with a non-zero balance hit a new all-time high—just like it did at this time last year. Now more than 81 million addresses holding some amount of the second-largest cryptocurrency by market cap, according to blockchain data site Glassnode.

These developments coupled with the latest drop in the fee structure could trigger a price rally soon.

A possible delay…?

Ethereum’s network did witness a hiccup along the way to its destination. The Ethereum beacon chain, which will be crucial to the Ethereum Merge scheduled for later this year, experienced a potentially high-level security risk known as a blockchain “reorganization.”

This error could happen either through a network failure, such as a bug, or a malicious attack, temporarily resulting in a duplicate version of a blockchain. The longer a reorg lasts, the more serious the consequences. To make things worse, ETH plunged to its lowest level against Bitcoin in October 2021.

Today’s pullback saw ETH’s dollar value plunge 7%, leaving some $86 million in liquidated positions. Read More at AMBCRYPTOCRYPTOCASTER® - DECENTRALIZED FREEDOM!

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt

You may also like