Amid growing staking demand, the price of Ether has made significant strides, reaching a new yearly high above $2,800.
The total amount of staked Ether in the Beacon Chain has reached 30,206,801 ETH, which is worth over $85 billion, locking up nearly 25% of the total circulating supply. There are currently 943,974 active validators on the Beacon Chain.
February has been a bullish month for the Ethereum network so far. Between Feb. 1 and 15, investors deposited 600,000 Ether (ETH) into Ethereum 2.0 staking contracts. February also saw the ETH price surge to yearly highs above $2,800. Ether is trading at $2,774 at the time of writing.
A quarter of the circulating supply locked in proof-of-stake (PoS) contracts is seen as a bullish sign for the Ethereum network. The rise in staked ETH adds to the network’s security and efficiency, and it reduces the supply of ETH available to trade on exchanges, leading to reduced supply amid growing demand.
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Source: https://cointelegraph.com/news/ether-staking-deposits-touch-85-b