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The Beacon Chain, Ethereum’s proof-of-stake network, has hit a milestone with over 30 million ETH staked, worth $85 billion, locking up nearly 25% of the total circulating supply. This surge in staked ETH is seen as a bullish indicator for the Ethereum network, enhancing its security and efficiency. With nearly 944,000 active validators participating, Ethereum 2.0 staking contracts saw an additional 600,000 ETH deposited in February alone. This coincided with Ethereum’s price climbing to new yearly highs above $2,800, currently trading at $2,774. The integration of proof-of-stake through the Beacon Chain has incentivized validators with an annualized rewards rate of 4%. Despite initial skepticism, validators have overwhelmingly chosen to restake their ETH for passive income, indicating confidence in the network’s future. With Ethereum’s price on the rise and attention shifting to potential spot ETH ETFs, institutional demand is expected to grow, further impacting market dynamics.
