Ethereum 2.0 ready for launch – The long-awaited 524,000 ETH have been collected!

A miracle happened – 20 days after its deployment, the Ethereum 2.0 depot contract finally brought together all the ETHs necessary for its launch. The money was raised in time to maintain the planned launch on December 1st.

510,528 ETH in… 6 days!

All indicators are green for Ethereum 2.0. 20 days after the publication of the deposit contract, all the 524,288 ETH needed to launch Ethereum 2.0 have been collected.

Although the first 2 weeks were rather quiet, the contract witnessed an exponential turnout in the last 6 days.

In that time, it was possible to raise ETH 516,528, an increase of 505%. In total, the deposit contract currently has 626,144 ETH, 116,000 more than the required amount.

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Change in the number of ETHs deposited under the deposit agreement since its launch – Source: Glassnode

Participation in the contract remained timid until 20 November, with only around 100 deposits recorded daily. It was from 20 November onwards that things picked up speed, with 1,283 deposits recorded on that day, followed by a record 5,539 deposits on 23 November.

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Number of daily depots – Source: Glassnode

November 23 alone recorded the equivalent of $92 million in ETH token deposits. This date coincided with the explosion of the ETH price, which rose 33% in the space of a week.

Launch maintained on December 1

The harvesting of the deposits was completed on time. The launch of Ethereum 2.0 on 1 December was only possible if the deposit contract had the necessary amount available 7 days before the launch, i.e. today, Tuesday 24 November.

As a result, we can now confirm that the launch of phase 0 of Ethereum 2.0 will take place on 1 December.

In fact, this date will mark the creation of the first genesis block of the beacon chain. As a reminder, the Bitcoin Superstar chain is the backbone of Ethereum 2.0 and its mission is to ensure consensus and synchronisation with the shards, which should arrive by 2021.

We will now have to be patient until the beginning of December to fully appreciate Ethereum 2.0. Nevertheless, this launch is only the first step of a 3-phase deployment, which should last until 2022.

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