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Ethereum Staked Doubles Days Before The Merge

Ethereum Staked Doubles Days Before The Merge

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In just one year, the total amount of ETH staked has more than doubled before the merge, which will take place in the next few days. According to information exempt According to Arcane research, the amount of ETH stake increased from 6.5 million to 13.4 million. This shows that interest in Ethereum has been strong over the past year.

Ethereum Staked Doubles Before ETH Merger

Ethereum investors will continue to stake ETH ahead of the merger, which will take place in the coming weeks of September. Despite investors still not being able to withdraw their staked ETH, there have been several investors who have staked 6.9 million ETH over the past year.

According to the report, since staking is a high-risk affair, most of the ETH remained unstaked. This is also very important because it shows that many investors want to hold on to their ETH if something goes wrong with the merger.

In addition, it is still not possible to withdraw funds from the staked contract. This means that people who have invested in ETH and staked their funds will receive rewards, but they cannot withdraw them. This has also forced many holders to avoid staking their Ethereum.

It is also worth mentioning that the return paid to bettors may increase in the future. As soon as the withdrawals are opened, the staked ETH may leak out. This imbalance between the outflow and inflow of ETH could increase the yield paid and attract more investors.

The Ethereum merger is expected to happen as soon as September 15th. This allows Ethereum to become a faster and more reliable blockchain network. Between 2017 and 2022, Ethereum grew alongside Initial Coin Offerings (ICOs), Non-Fixable Tokens (NFTs), Decentralized Finance (DeFi) and many others.

This has created a situation where Ethereum became very expensive to use for ordinary users and projects that require a lot of transactions and low fees. Therefore, the goal was to make Ethereum a proof-of-stake (PoS) digital currency. In this way, transactions can be processed faster and with lower costs.

Instead of miners, Ethereum now has validators. These validators must stake at least 32 ETH. However, if an investor has less than 32 ETH and wants to invest in Ethereum, he could do so through exchanges and other services that allow users to raise funds and become validators themselves (even without reaching 32 ETH).

According to data shared by CoinGecko, Ethereum is trading at around $20,110 per coin. Meanwhile, the virtual currency has a market capitalization of $190 billion, making ETH the second largest virtual currency after Bitcoin (BTC). There is no way to know what may happen to the price of ETH, but analysts believe that if Ethereum reduces its supply or issues new coins (which may happen in the future) there could be a strong rally.

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