Ethereum prices may not be very positive at the moment but fundamentals are improving as the network gears up for proof of stake. Testnets indicate that up to a million ETH could be already staked in anticipation of Beacon Chain.
Ethereum has fallen back below $160 today as crypto markets continue their correction. Chinese New Year has been partially blamed for the selloff and the exit of over $10 billion from crypto markets this week.
In the short term none of this really matters for Ethereum which is still showing solid fundamentals and development progress.
How Would You Like Your Stake?
As reported yesterday by Bitcoinist, one of Ethereum’s most important smart contracts was successfully verified enabling deposits to be made in preparation of the migration to proof of stake.
It has been estimated that around a million ETH has already been staked by testnet clients. This equates to around $160 million at today’s prices.
The figure is based on the amount currently utilizing the single client ETH 2.0 testnet. Around 100,000…