When the price of Ether hit $ 3,500, Ethereum 2.0 sees a record for newbies

Vladislav Sopov

Ethereum (ETH) set a number of records yesterday. This is how the Ethereum 2.0 stakers reacted to the rapid rise in prices

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• Kryptoquant: 1,368 depositors have joined the Ethereum 2.0 deposit agreement
• Ethereum miners may have started the proof of stake (PoS) migration.

More than 1,000 new depositors have blocked their 32 ETH shares from the original Ethereum 2.0 financing agreement. Some of them may also be involved in mining in Ethereum (ETH).

Kryptoquant: 1,368 depositors have joined the Ethereum 2.0 deposit agreement

According to the Twitter release by the analytics service based in Cryptoquant, Korea, some new depositors of the original Ethereum 2.0 contract hit a new high yesterday, May 4, 2021.

Image via Twitter

Cryptoquant registered 1,368 new depositors who transferred their ethers (ETH) to the ETH2 deposit agreement. This surge in interest in Ethereum 2.0 coincided with a staggering rally by ETH for over $ 3,500.

Yesterday the price of Ethereum (ETH) set a new record, followed by massive liquidations on all derivatives trading platforms. A total of $ 50 million in ether shorts disappeared in no time.

Yesterday’s session on Ethereum’s (ETH) markets also printed a record in terms of net futures trading volume. This indicator exceeded $ 89 billion for the first time in the history of Ethereum.

Ethereum miners may have started the proof of stake (PoS) migration.

In contrast to Ethereum 1.0, in the second iteration of this protocol, the transactions are secured by a PoS consensus (Proof-of-Stake). This means that validators (stakers) are responsible for blockchain integrity instead of miners.

As a result, the profitability of mining in Ethereum (ETH) ends. According to experienced researchers at Ethereum (ETH), mining ether will be profitable by the end of 2021.

As already described by U.Today, the Ethereum (ETH) engineers recommended that all miners consider switching to staking processes. This is why the FOMO-driven migration to Ethereum 2.0 has gained such attraction.