The amount of staked Ether has now reached a new ATH of more than 8.9 million ETH. Currently, this has a value of more than $28 billion.
Glassnode data shows that the exact number now sits at 8,965,186 ETH.
But despite the fact that the staked ETH sits at an ATH, it continues to be below its ATH dollar value. The contract managed to reach a peak dollar value in November, back when Ether also topped a new ATH of $4,870. Data from Etherscan shows that the highest dollar value of the ETH 2.0 contract sits at around $39 billion.
Still, around 7% of all Ether in circulation is now staked in the ETH 2.0 contract and awaiting the change to PoS which may happen in Q1 or Q2 this year. Vitalik Buterin, the co-founder of Ethereum, said that the migration is around 50% ready and added that the merge represents the next step that will be taken. The merge is allegedly going to make the Ethereum network more energy-efficient.
But if things don’t change soon, Ethereum may lose its domination, as analysts at global investment bank, JP Morgan declared recently. According to them, based on how the progress on Ethereum is going, the changes may come too late and other blockchains will surpass it. Currently, Ethereum has a DeFi dominance of 70% and dropping.