Last week, Ethereum pledged approximately 572000 ETHs, setting a new historical high

04/25/2023 01:13 • Blockchain Briefs • 76 views

According to reports, encryption researcher @ TomWan tweeted that last week, the Ethereum Beacon Chain pledged a total of approximately 572000 ETHs, reaching a historic high, mainly driven by institutional pledge service providers. The top five institutional level pledge service providers Bitcoin Suisse (4900), Segment (6600), Kiln (17000), Stacked. us (46000), and Stackfish (73900) pledged a total of 235000 ETHs.

Last week, Ethereum pledged approximately 572000 ETHs, setting a new historical high

1. Introduction
2. What is Ethereum?
3. What is the Ethereum Beacon Chain?
4. What is ETH?
5. Institutional Pledge Service Providers
6. Top 5 Institutional Service Providers and How Much They Pledged
7. Reasons for the Increase in Pledges
8. Conclusion
9. FAQs

Article: Ethereum Beacon Chain Receives Record-Breaking Pledge of 572,000 ETHs in One Week

With the rise of digital transactions and cryptocurrencies, Ethereum has become a popular platform for developers and investors alike. According to reports, encryption researcher @ TomWan tweeted that last week, the Ethereum Beacon Chain pledged a total of approximately 572,000 ETHs, reaching a historic high, mainly driven by institutional pledge service providers.

What is Ethereum?

Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications. It was launched in 2015 by Vitalik Buterin and has grown to become the second-largest cryptocurrency platform by market capitalization after Bitcoin.

What is the Ethereum Beacon Chain?

The Ethereum Beacon Chain is a proof-of-stake blockchain that is part of the larger Ethereum 2.0 upgrade. It serves as an anchor in the transition from Ethereum’s current proof-of-work consensus mechanism to proof-of-stake. The Beacon Chain helps to coordinate and execute transactions across multiple shards, which will allow Ethereum to handle many more transactions per second than it currently does.

What is ETH?

ETH is the native cryptocurrency of the Ethereum platform. It is used to pay for transaction fees and contract execution on the Ethereum network. It is also traded on cryptocurrency exchanges and can be used in decentralized finance (DeFi) applications.

Institutional Pledge Service Providers

Institutional pledge service providers are companies that offer staking services to institutional investors. These services allow investors to earn rewards by staking their cryptocurrency holdings on behalf of the Ethereum network. These institutional-level investors can receive higher incentives than non-institutional investors due to their large investment size.

Top 5 Institutional Service Providers and How Much They Pledged

The top five institutional level pledge service providers, as reported by @TomWan, are Bitcoin Suisse, Segment, Kiln, Stacked.us, and Stackfish. These companies pledged a total of 235,000 ETHs, out of the total 572,000 ETHs pledged to the Beacon Chain. Here is a breakdown of the pledges by each company:
– Bitcoin Suisse: 4,900 ETHs
– Segment: 6,600 ETHs
– Kiln: 17,000 ETHs
– Stacked.us: 46,000 ETHs
– Stackfish: 73,900 ETHs

Reasons for the Increase in Pledges

There are a few reasons for the increase in institutional pledges to the Ethereum Beacon Chain. One reason is the upcoming Ethereum 2.0 upgrade, which is expected to bring significant improvements to the platform’s scalability and transaction speed. Institutional investors are keen to get in on the infrastructure upgrades in hopes of making a profit. Additionally, the staking rewards for Ethereum have been increasing, incentivizing institutional investors to stake their holdings.

Conclusion

The Ethereum Beacon Chain’s record-breaking pledge of 572,000 ETHs is a significant milestone for the Ethereum community. With the increasing interest of institutional investors and the upcoming Ethereum 2.0 upgrade, the future looks bright for the Ethereum platform.

FAQs

1. What is the Beacon Chain?
The Beacon Chain is a proof-of-stake blockchain that is part of the larger Ethereum 2.0 upgrade.
2. What are institutional pledge service providers?
Institutional pledge service providers are companies that offer staking services to institutional investors.
3. What is the native cryptocurrency of Ethereum?
The native cryptocurrency of Ethereum is ETH.
#

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/25/last-week-ethereum-pledged-approximately-572000-eths-setting-a-new-historical-high/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.