Overview
According to OKLink data, Ethereum 2.0's deposit contract has received 89,568 ETH, achieving just 17.08% of the 524,288 ETH required to launch the Genesis block. Analysts suggest that Phase 0 may be delayed beyond January 2025 due to slow staking progress.
In secondary markets, ETH faces potential short-term volatility, with support at $410** and resistance at **$480–$500.
Ecosystem & Technology
1. Key Developments
ETH 2.0 Deposit Contract Nears 90K ETH
- Progress: 89,568 ETH staked (~17.08% of target).
- Timeline: Beacon Chain’s final version expected by November 24, with mainnet launch likely delayed.
👉 Track real-time staking progress
Vitalik Buterin Updates Penalty Structure
- Initial penalties reduced to 1/3–1/4 of Medalla testnet levels.
- Staking rewards estimated at 25% APY if target is met.
Pyrmont Testnet Launch
- Scheduled for November 18, focusing on scalability and validator participation.
2. Community Initiatives
- Ethereum Foundation Grants: Funding projects to improve staking tools and documentation (proposals due December 22).
3. Project Updates
- Chainlink VRF: Adopted by PoolTogether for verifiable randomness in DeFi.
- Gemini’s wFIL: Bridges Filecoin to Ethereum for cross-chain utility.
- CoinDCX ETH Staking: Allows small investors to stake with 0.1 ETH minimum.
Market Analysis
1. Spot Market
- ETH traded at $475** before settling at **$451.86 (-1% weekly).
Key Levels:
- Support: $410
- Resistance: $488, $500
2. Capital Flows
- Net outflow of $135M (-177% WoW), signaling profit-taking.
- Whale activity declined: Large transfers (>5K ETH) fell by 29.38%.
3. Supply Distribution
- Top 300 addresses hold 51.31% of ETH (+0.17% WoW).
News & Alerts
1. ETH 2.0 Scam Warning
- Fraudulent projects (e.g., "Ethfund") falsely claim Vitalik’s endorsement. Always verify staking contracts.
2. Infura Outage
- Impact: Disrupted API services for exchanges (Binance, Upbit) and wallets (MetaMask).
- Cause: Consensus bug in older Geth versions. Upgraded nodes were unaffected.
3. Stablecoin Growth
- DAI circulation surpassed 1B tokens, ranking third behind USDT and USDC.
FAQ
Q1: When will ETH 2.0 Phase 0 launch?
A: Likely delayed post-January 2025 due to insufficient staking participation.
Q2: Is staking ETH safe?
A: Yes, but only via official contracts. Avoid unverified "high-yield" schemes.
Q3: What’s Pyrmont’s role?
A: A public testnet to trial validator scalability before mainnet upgrades.
👉 Explore ETH staking opportunities