The Ethereum 2.0 or Eth2 staking contract now holds over 3 million ether (ETH), worth more than $5.3 billion at current prices.
Anyone can stake their ETH to earn rewards of up to around 23%. However, all deposits and rewards can only be withdrawn when Phase 1.5 of Eth2 goes live — sometime in 2022.
The Eth2 journey, the transition from proof-of-work to the proof-of-stake mechanism, began with the Phase 0 launch on December 1. The full transition into the new network is a multi-year process, as The Block has previously reported.
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