<p>The Ethereum 2.0 or Eth2 staking contract continues to attract deposits. The contract now holds more than $1 billion worth of ether (ETH).</p> <p>In terms of units, that is <a href="https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa">more than 1.5 million ETH</a>. The $1 billion-mark comes as deposits grow and ETH's price continues to surge, currently <a href="https://in.tradingview.com/symbols/ETHUSD/">trading above $660</a> on Coinbase, according to TradingView.</p> <p><iframe title="ETH in ETH2 Deposit Contract" src="https://embed.theblockcrypto.com/data/decentralized-finance/asset-management/eth-in-eth2-deposit-contract/embed" width="100%" height="420" frameborder="0"></iframe></p> <p>There is no closing date for the contract, meaning people can continue to make deposits to earn staking rewards for securing Eth2.</p> <p>The journey of Eth2, its transition to a proof-of-stake network from a proof-of-work model, began on December 1. It saw the <a href="https://www.theblockcrypto.com/linked/86179/eth2-beacon-launch-staking">launch of Phase 0</a> or beacon chain — a kind of backbone for Eth2.</p> <p>There is <a href="https://www.theblockcrypto.com/daily/85771/eth2-phase-0-roll-out-long-way-to-go">still a long way to go</a> for Ethereum to fully transition into the new network. The new blockchain is expected to be more efficient and scalable than the current proof-of-work network.</p>