A recently published report shows that the investors of Ethereum seem to be accumulating more tokens ETH in their wallets with the purpose of complying with the minimum threshold to participate in the staking of Ethereum 2.0.
Yes, Ethereum is only a few months away from his transition from the consensus Proof of Work to Proof of Stake in ETH 2.0. And it appears that investors are beginning to react.
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Massive accumulation of Ethereum
The transition to ETH 2.0 is expected to take place during the third quarter of the year and will be gradually.
One of the most anticipated features for the market consists in the possibility of obtaining rewards for their tokens ETH accumulated. The only requirement on the moments in keep 32 ETH.
Therefore, a report submitted by Arcane Research found that the number of wallets in the network of Ethereum that have 32 ETH or closer to 120,000.
This means that we are witnessing a massive build-up of ETH in wallets, on the part of investors, with the objective of participating in the next feature of Ethereum 2.0.
“Are you preparing investors for the staking of Ethereum? Data from @nansen_ai show that nearly 120,000 wallets Ethereum are ready for the staking. This number has grown 13% during the past year”, wrote the account of Arcane Research on Twitter.
In this way, in the chart published by Arcane Research we can see a trend towards massive accumulation of Ethereum (ETH). In addition, experts expect that the trend of accumulation to continue, not only before the launch of ETH 2.0, but even after.
What impending increase in the price of ETH?
What is interesting about this trend cumulative ETH is that it could lead to a shortage considerable in the market. And, consequently, to an increase in the price of the criptomoneda.
In addition, Josh Olszewicz, one analyst important of cryptocurrencies, recently explained via his Twitter account that ETH might be preparing for a big move against Bitcoin as it starts to move on to phase 2.0.
The analyst pointed out that the Ichimoku Cloud is tilted upward for the first time since mid-2018. And that could be about to confirm a pattern of golden cross.
For those who don’t know, the flag mentioned by Olszewicz is widely used to observe the direction and strength of the trend. It is also used to review the support, the resistance and the buy or sell signals.
Concerns about possible centralization of ETH
Many critics have argued that the staking in Ethereum could cause it to centralize the crypto exchanges. However, Alez Svanevik, co-founder and scientific data of Nansen, noted that most of the new wallets with 32 ETH or more do not bend to the crypto exchanges.
Although, yes it explained to Decrypt that a significant proportion of the total of ETH lies in the hands of wallets belonging to crypto exchanges.
“Specifically, of the 105 million ETH in order to address the ’32 ETH Club’, at least 32 million of the ETH are in the wallets of exchanges, in other words, 30%”, he explained.