Kraken clients have deposited more than 160,000 ETH into its Eth2 staking service

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More than 163,000 ETH has been staked by customers of crypto exchange Kraken and its staking service for Ethereum 2.0, also known as Eth2.

The 163,712 ETH figure, as published by Eth2 data provider Beaconcha.in, represents a notable increase from the 100,000 stake in Eth2 the firm's clients had on December 8. 163,712 ETH is worth roughly $95 million at current prices.

“Kraken has long been a supporter of Ethereum. In fact, we were one of the first exchanges to list Ether in August 2015. We have watched as Ethereum has continued to grow in significance. As of December 1, ETH trading volumes typically make up between 15-40% of our Bitcoin daily volumes,” said Jeremy Welch, Kraken’s VP of Product, in a press release that announced the previous milestone.

The ETH2 deposit contract launched in early November and surpassed the 1 million ETH mark on December 4, as The Block previously reported. The first phase of the Eth2 rollout — constituting the so-called beacon chain, a kind of backbone for the network — took place on December 1.

There are still several phases to come, as reported by The Block's Yogita Khatri, constituting a multi-stage process that will likely play out over the next few years. 

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Aug 11, 2021, 5:18PM UTC
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