Ethereum Beacon Chain Witnesses an Increase in the Total Amount of Pledge

02/27/2023 04:55 • Digital Disruptors • 93 views

On February 27th, according to the data of OKLink multi-chain browser, the total amount of pledge of Ethereum beacon chain reached 171547279 ETHs, and the pledged Ethereum accounted for 14.36% of the total supply of Ethereum, which reached 27.86 billion US dollars at the current price.

The total pledge amount of Ethereum beacon chain exceeded 17 million ETHs, and the pledge rate reached 14.36%

Analysis based on this information:

As per the recent data provided by OKLink, a multi-chain browser, the total amount of pledge for Ethereum beacon chain surged to 171547279 ETHs on February 27th. This comes as a piece of great news for the Ethereum community as it indicates that more and more people are showing interest in Ethereum and its Beacon Chain.

It is a notable increase in the amount of pledge, considering that the Ethereum network commenced its long-awaited transition from the Proof of Work (PoW) consensus algorithm to the Proof of Stake (PoS) consensus algorithm at the beginning of December last year.

The shift is expected to render the Ethereum network more efficient and sustainable, in addition to reducing the energy consumption required to maintain the blockchain network. PoS minimizes the need for miners to approve the transactions, enabling holders to validate new blocks in return for rewards.

At present, the pledge Ethereum holds a significant portion, around 14.36%, of Ethereum’s total supply, valuing the equivalent of around $27.86 billion at the market price. This indicates a strong bullish sentiment in the Ethereum community with many individuals and institutions expecting it to become the next big thing in the cryptocurrency domain.

The rise in the total amount of pledge is significant because it indicates the number of individuals and institutions that have faith in the future of the Ethereum network. The fact that so many people are willing to stake their holdings also suggests that the community has confidence in the security and stability of the network’s future implementations. This is a great sign for Ethereum, as it strives to expand its usage by developing decentralized applications, such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens).

In conclusion, the recent news regarding the increased total amount of pledge on Ethereum Beacon Chain indicates that the future of the network looks bright. It demonstrates the trust people have in the network’s future, especially after its transition to PoS in December. This is good news for the cryptocurrency domain, which boasts of a more sustainable blockchain model for the future.

Keywords:
Ethereum, Pledge, Beacon Chain, Supply, Cryptocurrency

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