Ethereum 2.0 deadline today – Bullish for the ETH course?
Ethereum 2.0 is about to be launched. It could be ready by 1 December. On that day, ETH 2.0 will officially be launched.
However, for this to happen, enough validators and the associated ETHs must participate in the new network by 1 pm German time today. If the required number of ETH by Bitcoin Up is not reached, the start of Ethereum 2.0 will be postponed by one week. This will continue until the target is reached.
Ethereum 2.0 is just around the corner
After Bitcoin Halving, Ethereum 2.0 is the biggest and most important event of the year. ETH users have been waiting for an update for years. Now the time has finally come. Almost 3 weeks ago, Ethereum’s Deposit Contract for Proof-of-Stake (PoS) was opened.
With at least 32 ETH users can participate in the new consensus algorithm as validators in the Ethereum 2.0 network. This creates a new opportunity to participate in Ethereum’s success and to make the network more decentralised.
But beware, Ethereum 2.0 is currently in phase 0 and it is not clear when ETH can be taken out of the deposit contract. Currently, only one deposit is possible. Furthermore, the rewards have not yet been finalised.
A total of 524,288 ETH must have been deposited in the Deposit Contract by 1 pm German time today. Only then will Ethereum 2.0 be launched on 1 December.
Required number of ETH not yet reached
Currently, a total of 398,432 ETH have been deposited in the contract. That is about 23 % that are still missing. However, the payments made in the last few days give hope that the target will be reached before the deadline. In total, about 300,000 ETH have been paid in over the last 3 days. At the last minute, everyone jumped on the Ethereum 2.0 train.
If the goal is actually reached by the deadline, it will be very bullish for ETH. The upcoming update, even if not much happens on 1 December, will attract a lot of attention at Ethereum and could become an additional price driver. After all, more than 500,000 ETH will eventually be taken out of circulation.