Ethereum 2.0 will launch on December 1st.

More than 524,288 ETH were deposited into the deposit contract

The balance of the deposit contract, which allows you to transfer ETH from the existing network to Ethereum 2.0, confirming the powers of the stakers, exceeded the required threshold of 524,288 ETH and 16,384 validators a week before the launch of stage zero.

At the time of writing, these parameters are 586 784 ETH and 18 333 validators, respectively.

A little more than seven days remain before the start of the zero stage.

The founder of the Defiant project, Camilla Russo, also noted this event. She shared her joyful expectations of the transition to the Proof-of-Stake consensus algorithm with the possibility of staking.

Eth devs have been saying proof-of-stake is the future almost since Ethereum launched.

🚀 and now it's finally happening.

ETH2, 2020 pic.twitter.com/PMbSPhYNbr

— Camila Russo (@CamiRusso) November 24, 2020

Staking is the receipt of passive income from cryptocurrencies based on the PoS algorithm and its variations. The essence of the process is to keep the coins in the wallet in order to obtain the right to participate in the mining of cryptocurrency and make a profit.

At the weekend, the balance of the deposit contract exceeded 50% of the required value. The day before, on November 23, users sent 153,088 Ethereum. The coins remaining up to the limit were deposited on the morning of November 24.

At the time of writing, the Ethereum price is testing the support of $ 600, demonstrating a 5.2% increase per day. On Monday, November 23rd quotes reached this level for the first time since June 2018. Over the past seven days, the asset has risen in price by 32% according to CoinGecko.

Recall, Vitalik Buterin recently revealed the benefits of participating in early staking Ethereum 2.0.

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