In the Ethereum 2.0 smart contract, which makes its depositors validators of the network, 6,805,325 5 ethers (ETH) are deposited, amounting to more than USD 21 billion -- more than the reserves of at least 120 countries.
Nearly 206 thousand addresses have deposited 6.8 million ETH, and each had to "lock" a total of 32 ethers in the smart contract.
According to the data provided by the World Bank, many Latin American countries are included among these nations. El Salvador, Cuba, Nicaragua, Bolivia, Ecuador, Costa Rica, Honduras, Paraguay, Venezuela, the Dominican Republic, Uruguay, and Guatemala all have reserves that range between USD 3 billion (El Salvador ) and USD 18 billion ( Guatemala )
APR is currently 6% and this figure is expected to decline as new validators add their ETH.
While there's many higher interest yielding crypto products, most people staking ETH believe the token itself will soon explode in value, and view this as gaining an extra 6% while HODLing.
Ethereum is up over 18% in just the last week.
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Author: Fernando Perez
Latin America Newsdesk
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