The activation of the Shapella hard fork on the Ethereum blockchain caused a surge of interest in staking, without confirming fears of a negative impact on the price of the asset. This is stated in the Cryplogger report.
According to the results of April, the second largest cryptocurrency by capitalization added 2.7% in value.
Due to the peculiarities of the mechanism for withdrawing cryptocurrency from staking, there was no significant outflow of Ethereum from the deposit contract – as expected. Instead, April saw a reversal with net inflows of 9% (~1.5M ETH), accelerating significantly after Shapella was activated.
The update caused a surge of interest in staking, in particular in the liquid staking segment. Demand from institutional clients also had a significant impact.
The number of network validators also increased by 10%, which indicates an increase in user confidence in staking the second largest cryptocurrency by capitalization.
Validators have withdrawn more than 1.97 million ETH (~$3.62 billion at the time of writing) from staking since Shapeella was activated. Network participants actively withdrew funds in the first days after the hard fork. At the same time, partial withdrawals prevailed in the structure of conclusions.
According to Ultrasound Money, over the past 30 days, the supply of Ethereum has decreased by approximately 59,000 ETH – the network remains deflationary. The largest number of coins (~25,100 ETH) has been withdrawn from circulation as part of operations related to the Uniswap protocol. In second place are transfers between network members.
Recall that the performance of Ethereum options on CME updated records after activating Shapella.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
The activation of the Shapella hard fork on the Ethereum blockchain caused a surge of interest in staking, without confirming fears of a negative impact on the price of the asset. This is stated in the Cryplogger report.
According to the results of April, the second largest cryptocurrency by capitalization added 2.7% in value.
Due to the peculiarities of the mechanism for withdrawing cryptocurrency from staking, there was no significant outflow of Ethereum from the deposit contract – as expected. Instead, April saw a reversal with net inflows of 9% (~1.5M ETH), accelerating significantly after Shapella was activated.
The update caused a surge of interest in staking, in particular in the liquid staking segment. Demand from institutional clients also had a significant impact.
The number of network validators also increased by 10%, which indicates an increase in user confidence in staking the second largest cryptocurrency by capitalization.
Validators have withdrawn more than 1.97 million ETH (~$3.62 billion at the time of writing) from staking since Shapeella was activated. Network participants actively withdrew funds in the first days after the hard fork. At the same time, partial withdrawals prevailed in the structure of conclusions.
According to Ultrasound Money, over the past 30 days, the supply of Ethereum has decreased by approximately 59,000 ETH – the network remains deflationary. The largest number of coins (~25,100 ETH) has been withdrawn from circulation as part of operations related to the Uniswap protocol. In second place are transfers between network members.
Recall that the performance of Ethereum options on CME updated records after activating Shapella.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!