Happy Tuesday, Blockfolians
The Lede
The Ethereum 2.0 deposit contract was released in early November. The smart contract required 524,288 ETH to be staked by today, November 24th, in order to ensure that the beacon chain for Ethereum 2.0 could launch.
Yesterday afternoon, it wasn’t clear that the goal was going to be hit. But in the last four hours, 25% of the necessary ETH poured in, moving the total deposited from 385,440 to more than 540,000 - worth over $325m.
The beacon chain activation is actually just the first of four phases of the migration. Still, it’s hard to overstate what a big deal this is on Ethereum’s journey to a fundamentally different economic and governance model.
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Highly Relevant Reading
Bitcoin is CREEPING towards a new ATH
Former Fed Chair Janet Yellen is back as (likely) Treasury Secretary
Binance is now blocking US users
Coinbase is a top 100 free app on Apple again
Community Commentary
Getting precise as we get closer
Do you agree?
A Really Big Number We Should Be Paying Attention To
$10M
That’s the size of Huobi’s new Filecoin incubator
Final Thought
Bring us the bitcoin boomers!