Valid Points: Price Dips, 60K Validators and Eth 2.0’s ‘Graffiti’ Messages

It’s been a rough start to the week for crypto investors, although numbers are starting to point upwards once again.

Eyes were anxiously set on a new all-time high for ether that failed to materialize as Bitcoin miners largely pulled the price rug last weekend out from under the entire crypto market.

Let us not despair too much, however. There’s much to be discussed in the world of Ethereum 2.0. This week, we’ll look at some network stats that continue to show healthy growth among multiple key metrics such as active validators and slashing events. After that, we’ll look at the role of graffiti messages – the secret notes you can sign to on-chain messages.

Pulse check

Source: Beaconcha.in, Dune Analytics and Staking Rewards
(Data as of 1/12/2021 @ 19:20 UTC)

Ethereum investors are still picking their teeth up from the floor after a 30% drop in the price of the cryptocurrency over the weekend from a high of $1,334 to $926, according to the CoinDesk 20.

And while red became the unofficial color of many decentralized finance (DeFi) users, Eth 2.0 stakers kept reeling in that sweet, sweet ether. Indeed, Eth 2.0 spits out steady rewards regardless of market conditions, and funds are locked for at least a year or more. So what’s there to worry about in the short run, right?

Looking at the network, the total amount of ether staked increased on the network roughly 5% since Jan. 5, although the total value locked on the contract dropped by about $2 million as the price of ether tumbled.

The Beacon Chain is also showing some 98% network participation, meaning the network is humming along just fine. There are almost 60,0000 active validators on Eth 2.0 as well, according to Beaconcha.in.

Finally, Eth 2.0 almost went a full week without a slashing event. Unfortunately, validator 57976 failed to attest a vote correctly and was subsequently slashed and exited from the validator pool. That event joins 35 other slashing events to date, according to Beaconcha.in.

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