Summary
TLDR: With the Dencun update approaching, there is now over 31 million Ethereum staked on the Beacon Chain, valued at $116 billion. The Ethereum price is currently at $3,720. The Dencun upgrade will introduce proto-danksharding to improve transaction speed and cost. EIP-7044 will make it easier for users to earn rewards on staked ETH without being a full validator and streamline the unstaking process.Validators and stakers can store instructions for when to exit their position in smart contracts to protect against downtime and potential fines.
Key Points
1. With the Dencun update a week away, there’s now 31.387 million Ethereum—worth approximately $116 billion—staked on the Beacon Chain.
2. After seeing a slight dip in early January, the amount of ETH staked on the network has grown steadily and increased by 9% since the start of the year, according to Staking Rewards.
3. At the time of writing, the Ethereum price is sitting at around $3,720, up 6.5% on the day and 14.1% on the week, per data from CoinGecko.
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