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ETH breaks several records as ETH approaches 2.0

November 5, 2020

Ethereum (ETH) set several records when it became known that ETH 2.0 could start as early as December 1st, according to cryptanalysis company Glassnode.

With the start of the deposit contract today, users have been able to deposit 32 ETH, which is required to participate in the mission. The ETH 2.0 beacon chain will be created on December 1, when at least 16,384 deposits from 32 ETH are received. That’s a total of 524,288 ETH or around 200 million US dollars.

Hours after the news was posted, The number of ETH addresses with at least 32 ETH reached an all-time high (ATH) of 126,852. Before the last hike, that number had been 123,000 since June of this year and has only fluctuated in hundreds of directions.

ETH breaks several records as ETH approaches 2.0
ETH breaks several records as ETH approaches 2.0

It means that About 13% of all addresses that currently contain more than 32 ethers must participate in order to start staking. If this amount is not reached, the start will be postponed until seven days after the threshold has been reached.

The number of addresses that contain at least 0.1, 10, or 100 ethers has also risen to all-time highs. of 3,616,246 addresses, 293,183 addresses and 52,943 addresses, which indicates a larger accumulation by speculators and potential validators.

The number of ethers held on exchanges also only reached a low of 15.8 million in one year. Regarding Bitcoin, the crypto statistician earlier this month Willy Woo said that believe When the number of coins held on exchanges decreases, “it is a sign that new buyers are arriving to take the coins off the market and move them to offline storage.”.

Ethereum’s exchange rate has shown an exchange pattern over the past decade that is similar in magnitude to the months leading up to the 2017 bullish rally.. Other signs can also be linked to this period, as the last time the price of Bitcoin hit $ 14,000 and Ethereum hit $ 400 at the same time was towards the end of the rally in mid-January 2018.

Ethereum’s hash rate also hit an ATH last weekwith 270 terahashes or 270 trillion hashes per second.