Ethereum Staking Surges, Withdrawals Take a Breather
• The Shapella upgrade allowed Ethereum holders to withdraw staked funds while staking continued to surge.
• Total ETH staked has hit 24.4 million ETH, while withdrawals hit 3.01 million ETH. Deposits and the total number of ETH deposits have been on the rise.
• New Ethereum deposits rose with Lido [LDO] holding the largest share of 29.1% and Coinbase capturing nearly 8% of the market share.
Shapella Upgrade Allows Withdrawals
The Shapella upgrade allowed Ethereum holders to withdraw staked funds while staking continued to surge. This created a wave of analysis and speculation on how it might influence the pricing of ETH. Even with this upgrade, staking ETH continued to gain momentum and expand.
Staking Volume Outweighs Withdrawal Volume
Total ETH staked has hit 24.4 million ETH, while withdrawals hit 3.01 million ETH indicating a sustained interest in Ethereum staking among investors. Furthermore, compared to the total amount staked, the volume of withdrawals appeared relatively insignificant indicating that more investors are choosing to stake their funds rather than withdraw them from the network.
Major Stakeholders in Market
Major stakeholders in the market include Lido [LDO] which held the largest share at 29.1%, followed by Coinbase which captured nearly 8% of the market share as of this writing according to OkLink data provider for blockchain statistics and analytics services .
New Ethereum Deposits Rose
Glassnode chart monitoring new Ethereum staking deposits showed noteworthy activity levels, highlighting ongoing stake accumulation within the network across multiple instances where deposit count reached all-time highs since Shanghai upgrade launch .
The successful transition of Ethereum into proof-of-stake (POS) consensus mechanism with Shapella upgrade brings about remarkable developments allowing users to withdraw their funds as well as maintain active participation in accumulating stakes within network . Major stakeholders including Lido [LDO] and Coinbase remain key players in driving investment activities within ecosystem .