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BTC $43941.87 (-7.6%)
ETH $3069.97 (-8.7%)
USDT $1.00 (-0.0%)
BCH $549.56 (-11.%)
BSV $138.91 (-15.%)
LTC $160.39 (-9.9%)
BNB $370.47 (-9.7%)
ADA $2.14 (-9.0%)
DOGE $0.21 (-10.%)

Almost a Quarter of the Entire Ethereum Supply Is Locked

Almost a Quarter of the Entire Ethereum Supply Is Locked
  • Almost a quarter of the entire ETH supply is locked in smart contracts
  • ETHhub founder, Anthony Sassano says that it’s comparable to the 2016 DAO event
  • The amount locked is worth $63 billion at the time of writing

Ethereum has never left the headlines ever since it reached a new all-time high back on May 12, 2021. Now, according to ETHhub Founder Anthony Sassano, the total amount of Ethereum supply locked is around 23 percent.

In a recent Tweet, he said that “the amount of ETH in smart contracts is now at a similar level to what it was during The DAO event (around 23% of all ETH).”

He added that back in June 2016, that was $230 million worth of ETH. Today, it is $63 billion worth of ETH according to Sassano.

In the chart shared by Sassano, a spike is noticeable. It happened in the year when Ethereum poured into the DAO. This was when the first decentralized autonomous organization launched on the Ethereum blockchain. It followed after raising $150 million.

Ethereum has been making a lot of developments and one thing that everyone is excited about is Ethereum 2.0. However, in a conference in Hong Kong, ETH Founder Vitalik Buterin shared his thoughts on the obstacles that they encountered.

According to him, it may take a lot more time.

We thought it would take one year to do the Proof of Stake, but it actually takes six years. If you are doing a complex thing that you think will take a while, it’s actually very likely to take a lot more time,

he said.

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.