Gemini has recently announced full support for Ethereum 2.0 staking and trading on its platform. The exchange has revealed that they will be launching Ethereum 2.0 staking, anytime soon. Through this, the customers will be having an opportunity to earn from this new upgrade. As Gemini announces plans to launch Ethereum 2.0 staking, it has also shown great support for the Ethereum community as well.
Gemini Aims to Provide Latest Crypto Development
It has been seen that Ethereum 2.0 staking has seen a huge growth ever since the Beacon Chain has been launched. It is revealed that the Ethereum community has staked around 900,000 Ethereum which was before the launch of Beacon Chain. Recently, data has been revealed by Etherscan, which stated that Ethereum supporters across the world have staked more than 1.5 million ETH which was worth around $1 billion.
Gemini has announced this through an official post by claiming that they will be launching staking, as soon as possible. The official post reads:
“We look forward to continuing to support the Ethereum community and new developments as Eth2 transitions and reaches its next milestone so that we can provide all of our customers with the ability to access and earn from the latest developments in crypto.”
Ethereum Network Shifting to Proof-of-Stake Network
It is stated that the Ethereum network has started shifting to the proof-of-stake network from its current proof-of-work one. This has been made possible with the introduction of Beacon Chain, this has also led to a huge increase in institutional investors on the network. It is stated several times that the Ethereum network is having great efficiency and this is the reason behind such a huge surge in institutional investors on the network. Michael Sonnenshein, who is the Managing Director at Grayscale Investments, has also shown interest in several Ethereum-related investment products.