Weekly deposits of the Ethereum 2.0 staking contract have been going down recently due to the plunging price of ETH, and are now at the lowest value ever. The “ETH 2.0 staking contract” is a smart contract where users can lock in their Ethereum to become a validator on the proof of stake network and earn rewards for it.
However, a minimum of 32 ETH must be deposited to the contract in order to stake on the network. Nonetheless, staking pools exist where users with less than the amount can collectively stake with others.During 2020 and 2021, many found the contract lucrative as the weekly average 32-ETH deposits usually stayed around 500 to 1000 per day. This has changed recently, however. As you can see in the graph, the number of Ethereum 2.0 deposits per day (7-day average) has been going down in recent weeks.