ETH2.0 Deposit Contract Surpasses 1.3 Million ETH – Major Exchanges Launch Staking Solutions

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The Ethereum 2.0 upgrade has reached a pivotal milestone: the deposit contract has surpassed 1.3 million ETH, signaling strong community confidence in the network’s transition to proof-of-stake. This critical threshold not only ensured the successful launch of the Beacon Chain on December 1, 2020, but also marked the beginning of a new era for Ethereum—where users can earn rewards by participating in staking.

Originally met with skepticism due to slow early adoption—just 10% of the required deposits after one week—the momentum shifted dramatically in late November. Within just 24 hours, from November 23 to 24, the deposit progress surged from 50% to full capacity. While rumors suggested Vitalik Buterin himself contributed significantly, the truth remains that the Ethereum community collectively delivered on its promise.

With the Beacon Chain now live, users can actively participate in ETH2.0 staking (or "持币生息"), locking their ETH to help secure the network and earn yield in return. However, direct staking comes with high barriers: a minimum of 32 ETH and an estimated lock-up period of 1–2 years, with no ability to transfer or trade staked tokens during Phase 0.

To bridge this gap between accessibility and participation, four major cryptocurrency exchanges—ZB, Binance, Huobi, and OKEx—have introduced innovative staking solutions that lower entry thresholds and maintain liquidity through tokenized representations of staked ETH.

👉 Discover how you can start earning staking rewards with minimal ETH today.

Why ETH2.0 Staking Matters

Ethereum’s shift from proof-of-work to proof-of-stake is more than a technical upgrade—it's a transformation in how value is secured and rewarded on the blockchain. The initial phase of ETH2.0 introduced the Beacon Chain, which coordinates validators and manages staking, but does not yet support smart contracts or asset transfers.

During this early stage, staking rewards are particularly attractive, with annual yields projected between 4% and 20%, depending on total network participation. Higher returns are offered initially to incentivize early adopters and ensure sufficient decentralization and security.

However, the requirement of 32 ETH (worth over $40,000 at the time) puts direct staking out of reach for most retail investors. This is where exchange-led staking products come into play.

How Exchanges Are Democratizing ETH2.0 Staking

By offering fractionalized staking services backed by institutional-grade infrastructure, these platforms allow users to participate with as little as 0.0001 ETH, while receiving daily rewards and mitigating slashing risks.

Let’s explore how each platform approached this opportunity.

ZB: First-Mover with QETH Innovation

ZB was the first among major exchanges to launch an ETH2.0 staking solution. On November 19, 2020, it announced support via its QuickCash cross-chain swap app (ZAPP), allowing users to convert ETH into QETH at a 1:1 ratio.

QETH functions as an option token representing future claim rights to staked ETH, designed to enhance liquidity during the long wait for full withdrawal functionality in later ETH2.0 phases.

Although ZB pioneered this model, details around QETH tradability and redemption mechanics remain limited—highlighting both innovation and uncertainty in early-stage derivatives.

Binance: Introducing BETH with Full Risk Coverage

On December 1, Binance launched its Binance ETH (BETH) product—a fully backed, 1:1 representation of staked ETH.

BETH stands out due to its ultra-low entry barrier and transparent structure. While BETH cannot be withdrawn from Binance until ETH2.0 enables withdrawals, users benefit from full pass-through of staking rewards and peace of mind knowing that operational risks are absorbed by the exchange.

👉 Learn how top platforms make staking accessible to every investor.

Huobi Global: Rewarding Users with HPT Airdrops

Huobi followed suit on December 2, launching its one-click ETH2.0 staking feature.

Key features include:

The inclusion of HPT rewards adds an extra layer of incentive beyond base staking yields—a clever move to boost user engagement and platform loyalty.

Like others, Huobi plans to list BETH trading pairs once conditions allow, though cross-exchange compatibility remains unlikely due to differing issuance mechanisms.

OKEx: Enhanced Rewards and Institutional Support

Announced on December 3 and launched shortly after, OKEx’s ETH2.0 staking service offers competitive advantages:

OKEx emphasizes reliability and user experience, ensuring seamless integration within its broader trading ecosystem. The promise of bonus USDT payouts further sweetens the deal during the initial adoption phase.

Core Keywords & SEO Integration

This article naturally incorporates key terms essential for search visibility and user intent:

These keywords reflect common queries such as "how to stake ETH with less than 32 ether", "what is BETH", or "which exchange offers best ETH2.0 staking APY?"—ensuring alignment with real-world search behavior.

Frequently Asked Questions (FAQ)

Q: What is the minimum amount needed to stake ETH directly on Ethereum 2.0?

A: You need at least 32 ETH to become a validator on the official ETH2.0 network. However, exchanges like Binance allow participation starting from as little as 0.0001 ETH through pooled staking.

Q: Is BETH the same across all exchanges?

A: No. Each exchange issues its own version of BETH, which may differ in reward structure, risk coverage, and bonus incentives. These tokens are typically non-transferable between platforms.

Q: Can I withdraw my staked ETH anytime?

A: Not yet. Withdrawals are not enabled in current phases of ETH2.0. Funds will remain locked until future upgrades (expected post-Merge). Exchanges cannot release your ETH early either.

Q: Are there risks involved in exchange-based staking?

A: While exchanges absorb slashing risks, counterparty risk still exists. If an exchange fails or delays payouts, your access could be affected. Always assess platform credibility before depositing.

Q: When will I receive my staking rewards?

A: Most platforms distribute rewards daily on a T+1 basis—meaning you’ll receive yesterday’s earnings today, usually in the form of BETH or equivalent tokens.

Q: Will BETH be tradable on spot markets?

A: Yes—once exchanges decide conditions are favorable, they plan to list BETH trading pairs. However, liquidity may be limited initially and vary by platform.

👉 See how leading platforms protect your assets while maximizing yield.

Final Thoughts

The surge past 1.3 million deposited ETH underscores growing trust in Ethereum’s long-term vision. While direct staking remains inaccessible to most individuals, the rapid response from major exchanges has significantly lowered barriers to entry.

Through products like BETH and QETH, millions of users can now participate in Ethereum’s evolution—even with small holdings—while enjoying daily returns and reduced operational risk.

As ETH2.0 continues its phased rollout toward full functionality—including shard chains and withdrawal capabilities—expect further innovation in staking derivatives, liquidity solutions, and decentralized finance integrations.

For now, the message is clear: Ethereum’s future is being built not just by validators, but by every user who chooses to hold, stake, and believe in its next chapter.

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