Who is helping ETH 2.0 hit the staking target on time?
Five days ago (13:00 on November 19), the ETH deposited in the ETH2.0 genesis block only accounted for 19.58% of the total target (524288ETH). At that time, 15 days had passed since the release of the ETH 2.0 deposit contract address. On the decentralized prediction platform Polymarket, investors predict that the probability of ETH 2.0 launching on time is only 39%.
On November 24, OKLink data showed that the balance of the Ethereum 2.0 deposit contract address has reached 524,288 ETHs, meeting the minimum requirements for starting the Ethereum 2.0 creation block, which means that the Ethereum creation block will be in The scheduled December 1st was dug up.secondary title
Why did the pledged coins in the ETH genesis block surge?
Some people speculate that after the end of Uniswap’s initial liquidity mining plan, part of the funds flowed into the ETH 2.0 genesis block to participate in the pledge.
Uniswap's initial liquidity mining plan ended on November 17. As of 15:30 on that day, the total lock-up volume of Uniswap has shrunk significantly to US$1.94 billion, a decrease of 39.25%. Calculated in absolute terms (based on the current lock-up volume and changes), the total outflow of funds from Uniswap is about 1.25 billion U.S. dollars, while the total inflow of funds from Sushiswap today is only about 220 million U.S. dollars. The latter only undertakes The former accounted for about 17.5% of the outflow of funds, and some other DeFi applications with a lower base did not receive too much outflow of funds. This part of the funds is likely to flow into the ETH 2.0 genesis block to participate in the pledge.
Uniswap's liquidity mining ended on the 17th, but the amount of pledges that flowed into the ETH 2.0 genesis block did not increase much that day. This is because the staking yield of ETH 2.0 is not too high, which is not very attractive to those funds participating in liquidity mining. It seems that the inflow of funds from Unisawp is not the main reason for pushing the ETH2.0 deposit contract to reach its goal.
So what is the main reason for the rapid growth of ETH2.0 genesis block pledges? Let's look at a market trend chart first.
It can be seen from the market trend chart that ETH has continued to rise sharply in recent days, and the start date of the sharp rise of ETH is also on November 24. As we mentioned above, for more than half a month, the pledge completion rate of the ETH 2.0 deposit contract has not exceeded 20%. Since the 20th, the pledge speed has begun to accelerate significantly.
There is a strong positive correlation between the ETH market trend and the pledge speed of the ETH2.0 genesis block. Therefore, we have reason to guess thatThere are funds to buy ETH in the secondary market and deposit it in the ETH 2.0 genesis block for pledge.secondary title
Who is staking in the Ethereum 2.0 genesis block?
The Ethereum 2.0 genesis block pledge growth process can be divided into three stages, which are November 5th-November 14th, November 14th-November 19th, and November 20th-November 24th , of which the fastest growing is the last stage.
In the first stage, the deposit pledge of ETH2.0 may mainly come fromEthereum developers, represented by Vitalik. In the ETH2.0 genesis block, the ETH deposited by users needs to be locked for at least one to two years. At present, ETH 2.0 only has the deposit function online, and does not support transfers. It will not support transfer transactions until phase 2 (at least one year later) goes online. According to the current pledge income, the highest is only 17%. At the moment when the currency price is soaring, many users are relatively cautious when staking, considering that the risk of future ETH price decline cannot cover the income. Developers represented by Vitalik took the lead in depositing their own Ethereum, which has an exemplary role and helps to dispel people's doubts about security.
In the second stage, the deposit pledge of ETH2.0 mainly comes fromEthereum big players (some are miners, project parties) and technical hobby supporters. On November 20, among the 105,000 ETH in the Ethereum 2.0 deposit contract address, more than 25% of the deposits came from 3 giant whales. According to the analysis of Bison Trails protocol expert Viktor Bunin, among them, an ETH whale deposited 17,088 ETH on November 14. These ETHs were purchased at a price of $300 during the 2017 bull market and held in different addresses. More than three years. Another ETH whale deposited 5,504 ETH, which is the ETH that started hoarding four years ago. There is also an ETH whale who deposited 5,024 ETH. These are ETHs that have been held for three years. The whale also holds another 15,000 ETH. Changpeng Zhao, who was born in technology, also said on Twitter, "Maybe I will buy 32 ETH to support the upgrade of Ethereum."
The third stage is mainlyInstitutional supporters who are optimistic about the development of EthereumRelated Reading
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Analyzing the creation address of ETH 2.0, V God is ranked fifth. Who are the other "big whales"?
