The stage 0 launch of Ethereum 2.0 is sure to be scheduled for December 1 and the amount of Ether (ETH) transferred to the Ethere escrow contract will double as the deadline approaches today.
At the time of writing, approximately 499,000 of the 524288 Ether needed to support the origination of a beacon chain have been deposited in the Eth2 Warranty Contract, with 11 hours remaining until expiration.
Less than 32,000 Ether is now needed, and more than that has been delayed in just the past six hours. Hourly deposits increased from 10,000 Ether to more than 15,000 Ether every 60 minutes.
Experts are now confident that the Eth2 four-series launch will happen in early December:
Ethereum co-founder Vitalik Buterin has taken to Twitter to celebrate the flow of deposits and remind people to deposit before activating the beacon if they wish to participate in the stakeholder group in the formation
Last week, the cryptocurrency community suggested that the deposit contract may not reach its target until 2021, when only 50,849 Ethereum is deposited within the first week after the deposit contract launch.
Many were concerned that the lower rates might lead to more delays because Ether holders did not want to block the tokens without knowing when they could withdraw them.
For now, it is expected that stakeholders will be able to withdraw tokens in conjunction with the launch of Phase 1.5, during which the existing Ethereum mainnet will be integrated with the Eth2 beacon and the new cutting system. Phase 1.5 is expected to begin in late 2021 or early 2022.
The increase in deposits has led to extreme volatility in the market that Polymarket forecasts whether the Eth2 Genesis event will happen on December 1st, with contracts favoring that jump from $ 0.36 12 hours ago to $ 0.95 at the time of writing.
Price chart for market outlook ETH 2.0, expected December 1: multi market
The upcoming Phase 0 launch also sparked upward pressure in the ETH markets as Ether climbed to new yearly highs above $ 600 in the past 12 hours. Since changing hands for $ 135 earlier in the year, ETH has gained nearly 350%.