Update: The threshold was exceeded shortly after 2:20 a.m. UTC on November 24th
The start of ETH 2.0 Phase 0 looks almost certain for December 1st;; The number of ethers transferred to the ETH 2.0 deposit contract has increased exponentially since today’s reporting date.
Until now, Almost 499,000 of the 524,288 ethers needed to ensure the creation of the light chain on December 1st were deposited in the deposit agreement of ETH 2.0and there are 11 hours left before the deadline is met.
Now less than 32,000 ethers are needed and more than that has been deposited in the last six hours. The deposits per hour rose every 60 minutes from about 10,000 ethers over 15,000 ETH.
Experts are now confident that the ETH 2.0 beacon chain will start at the beginning of December::
lol to anyone who thinks the beacon chain deposit contract is not going to hit its minimum.
– Ryan Selkis (@twobitidiot) 23rd November 2020
The co-creator of Ethereum, Vitalik Buterin also took to Twitter to celebrate the influx of deposits and to remind people to make deposits before activating the chain of beacons if they want to join the Staker Genesis cohort.::
The deposit contract runs at 460,000 ETH (~ 87.7% of target), and there are still 12 hours to go!
(It starts 7 days after activation; you need to reach 524.288 ETH for this.) Https://t.co/yqy87eMafV
– vitalik.eth (@VitalikButerin) November 24, 2020
Last week, the crypto community speculated that the deposit contract may not reach its goal until well into 2021., since only 50,849 ETH were deposited in the first week after the start of the contract.
Many feared that the low stake in the deposit would lead to further delaysbecause airwaves were unwilling to block their tokens without knowing when to make withdrawals.
It is currently expected that Stakers will be able to withdraw their tokens in connection with the launch of “Phase 1.5”., in which the current Ethereum mainnet is merged with the new beacon chain and the fragmentation system of ETH 2.0. Phase 1.5 is expected to start in late 2021 or early 2022.
The surge in deposits has created a great deal of volatility in the market for Polymarket Forecasts to know if the ETH 2.0 Genesis event will happen on December 1st;; There were contracts in place for such a jump from $ 0.36 12 hours ago to $ 0.95 at press time.
The upcoming start of phase 0 has also increased the upward pressure on the ETH markets.;; Ether hit a new annual high of over $ 600 in the past 12 hours. Since the ETH changed hands at the beginning of the year for USD 135, it has earned almost 350%.