The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence.
Ethereum 2.0 Contract Nears $30 Billion
In the early days, the Ethereum (ETH) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm that keeps Ethereum chugging along.
On November 6, 2020, Bitcoin.com News reported on the co-creator of Ethereum, Vitalik Buterin, adding $1.4 million worth of ether into the Phase 0 smart contract. Since then, the ETH 2.0 contract has swelled significantly. In July 2021, Bitcoin.com News reported on the Ethereum 2.0 contract exceeding six million ether. At the time on July 2, the six million ether was worth $12.4 billion using exchange rates from that day.
Today, according to Etherscan statistics, the Eth2 Deposit Contract holds 7,489,474 ether worth $29,366,901,606. The smart contract address is the largest wallet among the Ethereum rich list of wallets. The Wrapped Ether smart contract address is fairly close, however, with 6.9 million ether.
Ever since Buterin deposited the massive amount of ether he held into the ETH 2.0 contract address, deposits of 32 ETH are continuously deposited to this very day. In order to be a validator, 32 ether is required to join the ETH 2.0 staking community.
