New records for Ethereum (ETH) with Ethereum 2.0 coming up

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Last Updated on 5 November 2020 by CryptoTips.eu

Jeroen Kok

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Ahead of the recent Ethereum 2.0 launch, the Ethereum community is prepared with a record number of wallets now holding at least 32 ETH. The deposit contract was launched today which allows users to deposit 32 Ether to participate in Ethereum staking.

ETH 2.0’s beacon chain genesis will launch on December 1st if at least 16,384 deposits of 32 ETH each are received. That’s a total of 524,288 ETH, or about $200 million according to the current Ethereum price.

Hours after the news was published, Ethereum users flocked into the platform with an all-time high of 126,852 addresses holding at least 32 ETH, according to the data of Glassnode.

The last all-time high was in September this year with close to 124,180 Ethereum addresses holding at least 32 ETH. Currently, a small portion of all Ethereum addresses that are holding over Ether will need to participate, in order to launch staking.

The launch will be postponed if the target is not met and restarts seven days after the target is achieved.

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Other Records on the Ethereum Blockchain

The number of Ethereum addresses holding at least 0.1 Ether has also risen to post record highs of 3,616,539 addresses.

Also the number of Ethereum on crypto exchanges hit a one-year low of 15.9 million.

Crypto statistician Willy Woo believes that when the number of coins held on exchanges drops,  it’s an indication that new buyers are coming in to scoop the coins off the markets and move them into cold storage.