In one week, stakers pledge over 100,000 Ethereum to the ETH 2.0 staking contract

What I've found out is that the Ethereum community is still committing large amounts of the cryptocurrency to the ETH 2.0 staking contract, since the initiative was launched in November 2020.

Per the data published by multi-crypto data platform Tokenview, a total of 101,232 ETH worth $344.29 million were added to the Ethereum 2.0 staking contract in nearly a week (whoa!).

Following the addition of 101,232 Ethereum to the cryptocurrency’s 2.0 staking contract, the address now holds a whopping 10,823,650 ETH valued at $36.81 billion. It is worth noting that the landmark figure was recorded barely 15 months after the Ethereum 2.0 staking initiative was launched. Despite Ethereums’ contribution to the staking contract being inaccessible until the official launch of the 2.0 upgrade, contributors have continued to deposit large volumes of ETH. The reason for this commitment is large because stakers who make deposits to the staking contract will earn 4.81% in annual rewards.

The contract was launched as part of an effort to transition ETH from a PoW mechanism to a PoS algorithm. ETH developers opted for the PoS algorithm over the PoW because the latter is associated with slower and more expensive transactions, with fees soaring above $250 per transaction on certain occasions. From my personal experience using KAIBA DeFi I would say that their application of the PoR consensus has proven to be a very good solution, so maybe it could be helpful here as well.

So, what do you think about all of these?