Understanding the Record-breaking Ethereum Beacon Chain Pledges by Institutional Level Pledge Service Providers
According to reports, encryption researcher @ TomWan tweeted that last week, the Ethereum Beacon Chain pledged a total of approximately 572000 ETHs, reaching a historic high, mainl
According to reports, encryption researcher @ TomWan tweeted that last week, the Ethereum Beacon Chain pledged a total of approximately 572000 ETHs, reaching a historic high, mainly driven by institutional pledge service providers. The top five institutional level pledge service providers Bitcoin Suisse (4900), Segment (6600), Kiln (17000), Stacked. us (46000), and Stackfish (73900) pledged a total of 235000 ETHs.
Last week, Ethereum pledged approximately 572000 ETHs, setting a new historical high
As reported by encryption researcher @TomWan on Twitter, the Ethereum Beacon Chain received a record-breaking total of approximately 572,000 ETHs in pledges last week. The surge in pledges can be attributed to institutional-level pledge service providers who are increasingly taking an interest in the cryptocurrency space. In this article, we will explore the key players behind the pledges, why their interest matters, and what it means for the future of Ethereum.
The Top Institutional-Level Pledge Service Providers Behind the Historic Pledges
The top five institutional level pledge service providers who contributed to this historic pledge were Bitcoin Suisse (4,900), Segment (6,600), Kiln (17,000), Stacked.us (46,000), and Stackfish (73,900). Collectively, the top five providers pledged a total of 235,000 ETHs, accounting for more than 41% of the total pledges received by the Ethereum Beacon Chain.
Why Institutional-Level Pledge Service Providers’ Interest Matters
The fact that institutional-level pledge service providers are pledging jumps out as a significant development for Ethereum. Traditionally, retail investors and cryptocurrency enthusiasts were the ones who pledged to support the development of cryptocurrency projects. However, the entry of institutional-level pledge service providers signals a new phase where the investment is becoming more mainstream. The involvement of such institutions is a clear indication that the market is maturing and gaining more credibility, resulting in increased participation from big players.
Another reason why institutional-level pledge service providers’ interest matters is that they have the potential to impact the cryptocurrency market’s liquidity. These investors have a lot of resources, and their actions can either fuel or dampen prices. Given that these institutional-level pledge service providers pledged large sums of ETH, having them on-board is a significant win for Ethereum.
What the Record-breaking Pledges Mean for the Future of Ethereum
The record-breaking pledges are a good indication that Ethereum is on the right track to achieving its goals, and that institutional-level pledge service providers have faith in the project. What’s more, the record-breaking pledges show that there is a growing appetite among retail investors and institutional-level pledge service providers to support and invest in cryptocurrency projects. This bodes well for the future of Ethereum, as it implies that there is likely to be more support for the project and increased demand for the ETH token in the future.
The trend of institutional-level pledge service providers investing in cryptocurrency projects is expected to continue as more institutional-level pledge service providers come into the market. The likes of Goldman Sachs and PayPal have already made their foray into cryptocurrency, signaling their interest in the digital assets. Given that Ethereum is one of the largest players in the market, it’s expected that more institutional-level pledge service providers will show interest in the project, resulting in more record-breaking pledges.
In conclusion, the Ethereum Beacon Chain’s record-breaking pledges are a clear indication that the market is maturing, and that institutional-level pledge service providers are taking a keen interest in the project. The involvement of such institutions brings credibility, and their large sum of pledges is a significant development for Ethereum. The future looks bright for Ethereum, and the trend of institutional-level pledge service providers investing in cryptocurrency projects is expected to continue.
FAQs
Q1. What is the Ethereum Beacon Chain?
A1. The Ethereum Beacon Chain is the new Proof-of-Stake (PoS) blockchain that is being created to work alongside the existing Proof-of-Work (PoW) chain. It aims to upgrade the Ethereum blockchain, making it more scalable, secure, and energy-efficient.
Q2. What are institutional-level pledge service providers?
A2. Institutional-level pledge service providers are companies or businesses that provide financial services to institutional investors. These companies are licensed and regulated to provide services such as pledge or staking services to these investors.
Q3. How do institutional-level pledge service providers impact the cryptocurrency market?
A3. Institutional-level pledge service providers can impact the cryptocurrency market by influencing cryptocurrency prices through their large capital inflows. Their actions can either fuel or dampen prices, leading to volatility in the market.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/21466/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Ethereum Black Address “Fake-Phishing76357” Transfers 200 ETHs to Tornado Cash
According to reports, according to CertiK monitoring, the EOA address (0x2ed8…) associated with Ethereum\’s black address labeled \”Fake-Phishing76357\” transferred 200 ETHs (approx
-
Dora Factory Proposes Three Plans for Sustainable Open Source Geek Movement
On March 1, Dora Factory published the article \”Dora Factory Phase-II\” on Dora Research Blog. The article summarizes that the funding and governance work of th…
-
ARK Fund Reduces Holdings in Grayscale GBTC Shares by Over $1.5 Million: What Does This Mean for Investors?
According to reports, ARK Ark Fund position data shows that from March 1 to March 31, 2022, ARK Fund reduced its holdings by 101408 grayscale GBTC shares. At current prices, the va
-
US Stock Indices End Mixed with Tech Stocks Falling
According to reports, the three major US stock indices ended mixed, with the Dow up 0.21%, the Nasdaq down 0.29%, the S&P 500 up 0.09%, and most popular technology stocks falling.
-
NanoLabs files a trademark infringement lawsuit against Coinbase
It is reported that NanoLabs, the company behind the digital currency Nano (NANO), accused Coinbase of trademark infringement in a legal lawsuit.
NanoL…
-
What is DAY token (What currency is da)
What is DAY token According to official sources, what is DAY token? Daytoken is
-
Waves Labs Launches Community Open Source Governance Platform
According to the report, Waves Labs, an organization aiming at promoting the ecological development of Layer1 public chain Waves, said that the community open …
-
Unlocking the Potential of the Arbitrum Token in 2021 and Beyond
According to reports, according to Token Unlocks data, the Arbitrum token ARB will unlock 5.553 billion pieces on March 23, accounting for 55.53% of the total supply. Among them, the Arbitrum DAO Treasury, Individual Wallets, and Daos in Arbitrum Ecosystem will be unlocked at one time; The Team, Future Team+Advisors and Investors sections will be unlocked once on March 23, 2024. ARB will unlock 5.553 billion pieces on March 23, accounting for 55.53% of the total supply Analysis based on this information:The recent announcement from Token Unlocks that the Arbitrum token ARB will unlock more than 5.553 billion pieces on March 23, 2021, accounting for over half of the total supply, is great news for investors interested in the Arbitrum ecosystem. Among the sections that will unlock are the Arbitrum DAO Treasury, Individual Wallets, and Daos in Arbitrum Ecosystem, which presents new opportunities for users to engage with the Arbitrum platform. The unlocking of the Arbitrum tokens is expected to…
-
Investigating the Security Incident of DAO Maker: The Use of Proxy Contracts
On April 3rd, in response to yesterday\’s security incident, the official team of the DAO Maker project Degen Zoo stated in Telegram that the investigation concluded that it was pos
-
First Republic Bank of China Experiences Record Drop in Trading
It is reported that the First Republic Bank of China (FRC. N) was suspended from trading and fell 67% at the beginning of the session, setting a record decline. Bank of the First Republic suspended trading and fell 67% at the beginning of the session, the largest drop on record Analysis based on this information:The First Republic Bank of China (FRC.N) was suspended from trading at the beginning of a session, which resulted in a staggering 67% drop in stock. Such a large drop in value made history and raised concerns about the long-term stability of China’s banking system. This incident has been interpreted by financial experts as evidence of an ongoing struggle within the Chinese economy. China’s economy has been undergoing some significant changes, including the implementation of new regulations on the financial sector. These changes have led to a slowdown in growth and have resulted in several high-profile corporate bankruptcies. There have been indications for some time that…
-
Advocacy Organizations and Internet Security Experts Call Out Meta Corporation on Their Plan to Allow Minors into Horizon Worlds Metaverse
It is reported that dozens of advocacy organizations and internet security organizations called on Meta Corporation to stop the plan to allow minors to enter Horizo n Worlds metave
-
What is Meta Realm Asset (Meta Realm App)
What are Metaverse Assets? In the blockchain world, users can participate in various decentralized applications through Digital identity. For example, Bitcoin’s Lightning Network, Ethereum’s smart contract, NEAR protocol, etc For ordinary users, they can use the native token of the metaworld – HT – to participate in DeFi projects. For example, when holding BTC or ETH, you will receive rewards or rights similar to Stablecoin USDT and ERC-20 tokens, and these proceeds can be used to pay platform fees and other purposes. At the same time, users can also use the functions of Metaverse to invest According to official news, the Meta Realm app will be officially launched on June 29th. Users can download and log in using MetaMask wallet from Apple AppStore and Huawei App Store; You can also log in to social media platforms such as Facebook and Twitter to view the latest updates or access official website announcements It is reported that on March 12, 2020, Zhang…
-
OneCoin Scandal: Bulgarian Woman Extradited to the United States
According to reports, Irina Dilkinska, a Bulgarian woman involved in the suspected fraudulent encryption scheme OneCoin, has been extradited to the United States and faces charges
-
MicroStrategy cleared of tax evasion accusation
It is reported that the High Court of the District of Columbia rejected a civil lawsuit against MicroStrategy, a US business intelligence company, which accuse…
-
Circle’s Potential Loss of $198 Million: An Analysis of FDIC Recovery Process and Interest Income
On March 11, according to the analysis of encryption analyst Adam Cochran, according to the recovery process of FDIC (Federal Deposit Insurance Corporation of …
-
Digital Payment Processor Zebedee Utilizes Bitcoin Lightning Network
According to reports, digital payment processor Zebedee has announced an upgrade of its platform to utilize Bitcoin\’s lightning network to achieve fast, secure, and low-cost cross-