Eth2 has ranked the third-largest network by staked capitalization, as the price gains enjoyed by Ether for hitting record highs.
It has been reported that Ether pushed into new record price highs above $1,480 on February 2, with ETH testing $1,550 after gaining 12% in 24 hours.
However, with nearly 2.5 million ETH locked up, Eth2’s staked capitalization equals $3.6 billion. The price gains propelled Eth2 past Avalanche’s $3.4 billion in staked assets, with Avalanche’s staked capitalization representing 69.5% of the Avalanche’s supply.
The report said that Polkadot is currently the largest crypto asset on the measure, with 60% of its supply locked representing $10.8 billion, and followed by Cardano with 71% of its supply staked to total nearly $9.5 billion.
It has been analyzed that deposits to Eth2 have continued to grow steadily since its beacon chain genesis in early December.
With all eyes on Ethereum’s price as it rises above $1,500, Eth2 has quietly become the 3rd largest staking protocol. Polkadot is currently in the top spot, followed closely by Cardano. https://t.co/OjwQnyeX0c — Cointelegraph (@Cointelegraph) February 4, 2021
During January, nearly one million additional Ether was locked up for staking, while the total number of Eth2 validators increased by 55% from 49,200 to 76,200.
Thus, since the start of the year, Ether has gained 70% over Bitcoin in the ETH/BTC markets, with ETH currently within 5% of testing its local high at 0.045 BTC from January 25, which was Ether’s highest level relative to BTC since August 2018.