On November 27, PANews reported that the government of Bhutan has staked 320 ETH, worth approximately 970,000 USD, on the Ethereum 2.0 network through Figment. This is a sign of increasing interest from institutions in staking Ethereum, contributing to enhanced network security and potentially impacting the market due to greater participation.
Bhutan's locking of ETH reduces the circulating supply, impacting rewards and price stability. This action reflects a strong belief in Ethereum's proof-of-stake ecosystem, while also highlighting the robustness of the network. Bhutan's blockchain efforts, including the national digital identity project on Ethereum, have attracted attention and been praised by industry leaders. Vitalik Buterin lauded this initiative as pioneering in national-level digital identity.
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