The number of validators on theÂ EthereumÂ 2.0 blockchain has topped a milestone of 60,000 in only six weeks of being live.
According to theÂ Beacon ChainÂ analytics platform, there are currently 60,189 active validators on the network with a further 16,156 waiting in the queue. BeaconScan is reporting similar figures which means the network, which wasÂ launched on Dec 1, is more secure than ever.
The validator milestone was noted by the Ethereum communityâ€™s Josh Stark who compared the ETH 2.0 validator numbers with rival blockchains.
ETH Killers Canâ€™t Keep Up
Stark compared the number of validators on ETH 2.0 with the so-called â€˜Ethereum killersâ€™ using data from Coin98 Analytics. Of the ten rival chains analyzed, Avalanche was the next highest with a reported 716 validators.
The Tezos platform had just 496 while the even more hyped Polkadot had 288, according to the stats.
EOS, which was recently rocked by news of theÂ resignation of CTO Dan Larimer, was nowhere to be seen with just 21 semi-centralized validators.Â CardanoÂ was missing from the list as several respondents noticed, but according toÂ Staking Rewards, it only has a total of 1,453 active validators.
The amount of ETH currently staked in the deposit contract for ETH 2.0 is 2.46 million according to the Launchpad dashboard. At todayâ€™s prices, this equates to $2.7 billion or 2.16% of the entire supply. The supply fraction does not sound like much, but it should be noted that this ETH cannot be sold and has been effectively locked away for at least a year.
It will only re-enter circulation when Phase 1.5 of the Serenity upgrade merges the ETH 1.0 chain with ETH 2.0. Currently, stakers are earning a 10% annual yield on ETH, which itself has increased in value by 83% since Beacon Chain was launched.
For a blockchain that isnâ€™t actually doing anything yet, ETH 2.0 is already way ahead of its rivals.
Ethereum Price Outlook
Ethereum prices have rebounded slightly over the past 24 hours and currently trading for $1,120.
ETH prices are mirroringÂ Bitcoinâ€™s movements again as crypto markets attempt to revisit last weekâ€™s highs. Unless ETH can break its previous peak of $1,350 on Jan. 10, it might form a â€˜lower high,â€™ potentially indicating that the correction could become extended
Unfortunately for Ethereum users,Â gas pricesÂ also approached their all-time high as demand on the network increases.