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Exceeded 50% for ETH 2.0 deposits
Exceeded 50% for ETH 2.0 deposits
Ethereum

Exceeded 50% for ETH 2.0 deposits

By Marco Cavicchioli - 23 Nov 2020

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The deposits for the launch of ETH 2.0 exceeded 50%

Until a few days ago, the deposits required to launch phase zero of Ethereum 2.0 were at a standstill at 24%, but since the news spread that this could lead to a delay in the launch of the new protocol, the deposits have increased significantly. 

Until November 19th, in fact, the daily average of deposits had been less than 7,000 ETH, and at that rate, it would have taken 78 days to reach the minimum threshold to launch phase zero. 

But from November 20th, the daily average rose almost tenfold.

If this average were maintained, it would be possible to reach the threshold before December 1st, the day on which phase zero could be launched.

However, in the last two days, there has been a slight decrease in the rate of deposits, so much so that at this rate it could take another 8 days. 

At this point, it is possible to imagine that the minimum threshold of 524,288 ETH required could still be reached in the first week of December. 

ETH 2.0 deposits grow along with its price

It is worth noting that the price of ETH in the last few days has increased quite a lot, just starting from November 20th: this coincidence might not be random. 

Indeed, since some days, after the soaring of the price of bitcoin and its dominance, the prices of many cryptocurrencies have been recovering considerably, and that of Ethereum is no exception. The timing reveals that there could be a connection between this increase, and the novelties concerning the deposits for the reaching of the minimum threshold for the launch of phase zero of Ethereum 2.0. 

In fact, until November 19th the price was oscillating around $475, but the 20th it has exceeded $500

The 21st it has exceeded $530, and yesterday had a peak of almost $570. 

Today it even surpassed $580, registering a growth of 22% in three days. 

In fact, the acceleration in deposits for ETH 2.0 was sharp, full-bodied and sudden, and suggests the realistic possibility that phase zero could be launched in early December. This provides an unhoped-for optimism until a few days ago about the new Ethereum project, so the growth in the value of ETH is not all that surprising.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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