Ethereum gaining attention as amount of staked ETH tokens breaks 5 million

01 Jun 2021

???? BTC | $37,627 (+2,359, +6.7%)

???? ETH | $2,716 (+361, +15.3%)

???? XRP | $1.09 (+0.17, +18.6%)

???? LTC | $192 (+23, +13.6%)

The amount of staked ETH tokens for the ETH 2.0 upgrade has now breached the 5 million mark, representing 4.4% of all ETH tokens. These tokens are put to work for around 152’000 different validators, who have been helping to validate transactions on the Ethereum network under the proof-of-stake protocol.

A Chinese ex-central banker that used to be the head of the country’s digital currency initiative said yesterday that future digital currencies (CBDCs) could one day be based on the Ethereum network, with the intended aim of incorporating smart contract functionality.

Bitcoin declined by about -37% for the month of May, marking it as approximately on par with the largest ever monthly decline on record, last seen in November 2018 when Bitcoin went from $6.3K to $3.9K.

US regulators have submitted a proposal to lower the reporting threshold for cryptocurrency transactions to $600, down from $10,000. Exchanges will also be required to submit even more identifying data about clients, with a broad aim to target tax evasion.