ETH price regains $4K as possible Ethereum 2.0 'full validator' count hits 17-month low
May 14, 2021. Summarized by summa-bot.
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Glassnode data reveals that the number of Ethereum addresses holding at least 32 ETH declined steadily in recent months.
The number of Ethereum addresses that hold more than or equal to 32 Ether (ETH) is declining, pointing at a possible lack of interest among traders and investors to become "full validators" for its upcoming proof-of-stake blockchain.
Glassnode analysts see the Ethereum addresses with at least 32 ETH tokens as "potential validators" on the Eth2 blockchain.
In retrospect, staking in the upcoming Ethereum proof-of-stake protocol requires users to deposit at least 32 ETH to become a full node validator.
The Eth2 smart contract went live on November 4 via a "Beacon Chain upgrade" and sought at least 524,288 ETH to meet a so-called genesis threshold, the one that proves actors' consent over Ethereum blockchain's upgrade to proof-of-stake.
For many retail investors, becoming a full validator on the Ethereum network remains tall order since it requires them first to acquire 32 ETH or $128,000 at today's prices.