Ethereum is progressing quite rapidly in its desire to be stronger in terms of a decentralized financial layer- with 25% of its supply in smart contracts. Anthony Sassano, the founder of ETHhub as well as an Industry observer has mentioned that the amount of Ether currently under lock and key is quite similar to the one that took place in a DAO event 5 years back- where the amount was 23%. He also stated that at that time, Ether had a valuation of about $230 million with the pricing at $13. Today, the valuation of Ether is $63 billion.
Back when Ethereum poured a quarter of its supply in DAO- which was the first decentralized organization with complete autonomy when it was launched into the Ether blockchain bringing in about $150 million through a frenzied token sale. It is quite unfortunate that the DAO was later hacked due to multiple vulnerabilities in its initial codebase.
This led to the blockchain of Ether forking hard to restore the stolen funds, which resulted in the blockchain network splitting into Ether Classic, and Ether. Sassano further noted that there was quite possibly more than one million ETH in the Binance Smart Chain contract.
Ethereum 2.0 Latest
Quite a major amount of the ETH has been locked up in the deposit contract of Beacon Chain. According to the Launchpad of ETH 2.0, there is currently around 5.42 million ETH which finds itself staked in a blockchain. At the current price hovering in the market, they have a total valuation of around $13.5 billion. It also represents around 4.65% of the entire supply, coupled with being almost a quarter of all the tokens locked throughout DeFi smart contracts.
It is quite ascertained that the rewards for staking would diminish over time with more ETH getting locked in the contract. Currently, it is gathering a yield of almost 6.7% every year. The blockchain network for Ethereum has around 165,000 active validators, a figure that has gone over 250% since 2021 began.
