The latest data from the network reveals that the preparations for the Ethereum 2.0 update are continuing, not only on the developer side but also on the user side.
According to the latest data provided by market research company Arcane Research, more than 32 ETHs are held in approximately 120,000 Ethereum wallets. The amount of ETH held in wallets has increased nearly three times since 2017.
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Are investors getting ready for Ethereum staking? Data from @nansen_ai shows that almost 120,000 @ethereum wallets are ready for staking. This number has grown by 13% over the past year.
Read more here: https://t.co/UKFQKI2jze pic.twitter.com/G3nXhylels
— Arcane Research (@ArcaneResearch) June 8, 2020
The most important reason for users to accumulate Ether is the change on the algorithm side. With Ethereum 2.0, there will be a transition from Proof of Work (PoW) to Proof of Stake (PoS) algorithm. While contributing to Ethereum’s Blockchain operations with PoS, the stakeholding process, which is the process of holding funds to win Ether, will officially begun.
Ethereum 2.0 update is expected to be implemented in January 2020 under normal conditions, but due to technical difficulties, the release date of the update has been suspended until July.