Ethereum creator Vitalik Buterin has sent nearly 1.5 million worth of ether to the ETH 2.0 deposit contract, which went live on Wednesday (November 4).

According to GitHub records, the ETH 2.0 deposit contract address is 0x00000000219ab540356cbb839cbe05303d7705fa, and the eth2 Beacon Chain genesis should be taking place in early December (the earliest it will happen is 12:00 UTC on 1 December 2020). Before the genesis block can be launched, a minimum of 524,000 ETH needs to be staked (i.e. sent to the ETH 2.0 deposit contract address).

Users who stake a minimum of 32 ETH on the new network will begin receiving rewards at the onset of the genesis event, with the expected inflationary interest between eight and fifteen percent. 

Well, according to data from Etherscan, it looks like 100 transfers of 32 ETH each were sent from Vitalik’s “Vb 2” address to the ETH 2.0 deposit dontract address on Thursday (November 5).

At the time of writing (8:15 UTC on November 7), the deposit contract address holds 42,213 Ether.

When the crypto news outlet “The Block” asked Vitalik if he believes that the balance of the ETH 2.0 deposit contract address will reach 524,000 by December 1, Vitalik told them:

“If you look at the ether sale in 2015 for example, there was a significant (but disappointing) level of participation on day 1, then very little on days 2-12, and then on day 13 and especially 14 (the last day with a full discount) there was a huge spike that ended up being something like half of all ether that ended up going into the sale. So it’s very possible that here too we’ll see a quiet period and then lots of participation in the last week of November. But this is me just speculating, we’ll see!”

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