Ethereum 2.0 deposit contract locks up over 1 million ETH, three major exchanges may open BETH trading one after another

On December 4th, Beijing time, a few days after the beacon chain was officially launched, the amount of ETH deposited in the Ethereum 2.0 deposit contract has exceeded 1 million (currently worth more than US$610 million). Since the deposit contract has no deadline, this means that more ETH will be locked into the contract.

In the early stages, users participating in Ethereum 2.0 staking will receive high returns, with the current annualized return being approximately 15.7%. However, as more and more funds and validators join the network, the rate of return will continue to decline.

How much ETH is expected to be locked in Ethereum 2.0? This is closely related to the system's additional rewards. According to data provided by launchpad.ethereum.org, when the locked amount reaches 10 million ETH, the annualized return of the staker will drop to about 4.9%, which is also a relatively ideal number considered by developers.

The recent rapid increase in locked funds in Ethereum 2.0 deposit contracts is largely related to the pledge services provided by major exchanges. So far, large centralized exchanges including Binance, Huobi, OKEX, etc. have provided ETH 2.0 pledge services to attract users to deposit ETH funds. And there is no suspense that major exchanges will soon launch stand-alone BETH transactions to provide liquidity for users (for the possible impact, see the previous article).

(Note: The above screenshots are from the announcements of the three major exchanges)

It should be noted that the time for Ethereum to fully transition to the 2.0 network is currently uncertain and may take up to 2 years. Last week, Ethereum 2.0 researcher Justin Drake said in an interview with the media:

“Phase 0 is very difficult, and I can say that with it, more than 50% of the total work on Ethereum 2.0 is done.”

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