
The Ethereum (CRYPTO: ETH) network launched its Beacon Chain in December 2020 which enabled Ethereum to be deposited and staked on its proof of stake chain. Ether deposited on the beacon chain will facilitate the adding of blocks to the blockchain, storage of data, and processing of transactions.
An individual validator needs 32 Ethereum tokens to be activated. On Dec. 1 2020, Ethereum was trading at $598.35. Since then, Ethereum rallied immensely as the market went bullish, causing new all-time highs of $4,812 earlier last year.