If the recent commotion has anything to go by, the Ethereum 2.0 phase zero mainnet launch should be around the corner in the next few weeks. As the community was geared towards its imminent launch, statistics on the ETH 2.0 switch to Proof-of-Stake continue to build momentum.
As discussed in previous reports, Ethereum 2.0 validators have a simple standard for validating transactions that is to have 32 ETHs in their addresses. The validator will be responsible for the functionality of its own node and is expected to incur profits of approximately 5-10 percent per transaction. fNow, according to Arcanes’ recent weekly update, it has been suggested that almost 95 percent of the total supply of ETH is ready at the moment for staking. The analogy was drawn as in the past few weeks, nearly 120,000 ETH wallets were ready for staking, as they held more than 32 ETHs.
Weeks before, it was indicated that these particular sets of wallet addresses also accounted for 95 percent of all the Ethereum. Close to 105 million of the ETH circulation supply out of the total 111 ETH tokens were held by these wallets. The report furthered stated,
“The most common wallet sizes above 32 ETH are round numbers like 50, 100, and 40, just ahead of the numbers between 33-40. This could signal strategic wallet sizing above the staking threshold.”
However, out of the total Ether in the circulating supply, about 18 million were still held by exchange addresses. Now, this may directly affect the overall staking statistic as certain small traders are just accounted as a part of balances on exchanges.
It is also important to note that, Binance, which is one of the largest exchanges in the world had conveyed its support for staking and the exchange announced that users will be able to actively participate via Binance.