$1.8 billion in staked Ethereum still waiting to be withdrawn

Nearly $2 billion worth of Ethereum (ETH) will be unlocked after the top smart contract platform’s Shapella update went live last week. In a new report, crypto analytics platform IntoTheBlock found that there are currently 868,631 staked ETH queued to be withdrawn, worth more than $1.8 billion at the time of writing.

The market research firm’s data also reveals that 104,000 ETH were deposited for staking within a 24-hour period following the recent update of the leading smart contract platform. The following was reported:

“Lido is the top institution involved in the staking, followed by independent stakers in second place, followed by Coinbase, Kraken and Binance.”

Kraken, a popular crypto exchange platform, has the largest percentage of ETH waiting to be withdrawn at 63.3%. This could be due to the fact that Kraken offers a staking service that allows users to stake their ETH on the platform and earn rewards.

IntoTheBlock compared the amount of ETH staked with that of rival smart contract platforms, such as Solana (SOL), BNB Chain (BNB), Avalanche (AVAX) and Polygon (MATIC). According to the analytics firm, Solana is way ahead of the rest, with Ethereum in last place. The below was reported by the crypto analytics platform:

“Currently, 14.4% of total ETH is staked. Will the latest Shanghai upgrade boost investor confidence and increase total ETH staked?”

The Shapella update, which allows Ethereum stakers to withdraw their staked tokens for the first time, is a portmanteau of “Shanghai” and “Capella,” two different updates that went live at the same time. While Shanghai strengthened the execution layer of the protocol, Capella made changes to the consensus layer.

Ethereum is trading at USD 2,091 at the time of writing with a sideways price action in the past 24 hours.

The post $1.8 billion staked Ethereum still waiting to be withdrawn appeared first on CryptoBenelux.

About admin

Check Also

Is PEPE coin going to rise or is the bull run cycle over, are $COPIUM and AiDoge the new trending cryptos?

NB! This is a paid press release. After its sudden appearance on the crypto market, …

Bir yanıt yazın

E-posta adresiniz yayınlanmayacak. Gerekli alanlar * ile işaretlenmişlerdir