The market is looking very good for Ethereum in the past few days, with a 14.2% rally that took us to a price point of over $2,900 – compared to Bitcoin’s 7% increase.
In the ETH Staking front, this Tuesday we’ve seen the largest single-day deposit of ETH into the Beacon Chain since its original launch in December of 2020, with 200,000 ETH being deposited. Or in other words, over $580,000,000 worth of ETH.
One of the primary suspects behind the increased deposit action is ConsenSys. Others are attributing it to the news around the Kiln testnet executing a relatively successful merge (more on this later), which created a staking rally on the Beacon Chain.
ETH Staking On Beacon Chain Queue Is Getting Longgggger..
The current queue to become an Ethereum Validator stands at over 9,700 pending validators. With a daily activation of 900 validators, if you decide to become an independent crypto staker right now, it would take your validator roughly 10 days of waiting before it’s activated and you start getting your staking rewards.
As more and more people inevitably warm up to crypto staking, this queue is expected to grow longer over time.
Kiln Testnet Merge
The Merge was successful! Well, sorta. It was done on a testnet.
Tim Beiko announced earlier this week that The Merge was successfully executed on the Kiln testnet. Later on Beiko reported that the the chain is slightly behind on producing blocks, and that the team identified some additional issues that are currently being worked on. All in all, great progress forward.
A new website that follows the progress towards The Merge also went live on wenmerge.com
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