Ethereum Beacon Chain reaches historic high as institutional pledge service providers drive pledge of approximately 572,000 ETHs

04/25/2023 01:13 • Metaverse Matters • 140 views

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

Cryptocurrency enthusiasts may be familiar with Ethereum, the decentralized platform for creating smart contracts and building decentralized applications. Ethereum is highly valued among investors and cryptocurrency traders because of its excellent potential to disrupt several industries, including the financial industry.
Recently, there were reports that the Ethereum Beacon Chain pledged a total of approximately 572,000 ETHs. This pledge reached a historic high and was mainly driven by institutional pledge service providers. In this article, we will explore this development and examine the top institutional level pledge service providers.

The Rise of Institutional Pledge Service Providers

Institutional investors are no strangers to the cryptocurrency market, especially Bitcoin. However, Ethereum appears to be gaining traction among these big players. This is evident in the increasing number of institutional pledge service providers for Ethereum.
These providers enable institutional investors to pledge their Ethereum holdings to the Ethereum 2.0 deposit contract, which is part of the Ethereum Beacon Chain. By doing so, institutional investors can contribute to the development of Ethereum and earn rewards for staking their ETHs.
The popularity of these providers is understandable, as they offer a secure and hassle-free way for institutional investors to participate in the cryptocurrency market. These providers also offer various services such as custody, exchange, and lending.

Top Institutional Level Pledge Service Providers for Ethereum

According to TomWan’s tweet, the top five institutional level pledge service providers for Ethereum are:
1. Bitcoin Suisse – pledged 4,900 ETHs
2. Segment – pledged 6,600 ETHs
3. Kiln – pledged 17,000 ETHs
4. Stacked.us – pledged 46,000 ETHs
5. Stackfish – pledged 73,900 ETHs
Together, these providers have pledged a total of 235,000 ETHs. This significant pledge demonstrates the growing interest of institutional investors in Ethereum and their willingness to support its development.

Conclusion

The pledge of approximately 572,000 ETHs to the Ethereum Beacon Chain is a significant development that showcases the growing interest of institutional investors in Ethereum. The rise of institutional pledge service providers has played a vital role in enabling these investors to participate in the cryptocurrency market securely and seamlessly.
The list of top institutional level pledge service providers for Ethereum also signifies that the market for institutional cryptocurrency services is diversifying. As more institutional investors enter the market, the demand for such services will only increase.

FAQs

Q: What is the Ethereum Beacon Chain?
A: The Ethereum Beacon Chain is a crucial component of the Ethereum 2.0 upgrade that aims to enhance the scalability, security and sustainability of the Ethereum network.
Q: What are pledge service providers for Ethereum?
A: Pledge service providers for Ethereum enable institutional investors to stake their Ethereum holdings to the Ethereum 2.0 deposit contract and earn rewards for contributing to the development of Ethereum.
Q: How do institutional level pledge service providers benefit the cryptocurrency market?
A: Institutional level pledge service providers benefit the cryptocurrency market by enabling institutional investors to participate safely and seamlessly, which can improve liquidity and price stability.

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