Shanghai Ethereum update brings record level of ETH staking inflows in a week – media
Analysts estimate that investors have entered into staking contracts totalling more than $1bn
According to analysts, the Shanghai Ethereum upgrade last week brought a record weekly inflow of ethereum (ETH) deposits for staking, mainly due to institutional staking providers and investors reinvesting their rewards after withdrawing funds.
Source. CoinDesk.
It is noted that on 12 April, the Ethereum blockchain completed a technical update, which is also called Shanghai or Shapella. This allowed the withdrawal of tokens that were previously blocked in staking contracts. This was the last key step after last year's merger to complete the network's transition to validating transfers through staking from a token-mining-based system.
According to CoinMarketCap, there are currently 120,406,936 Ethereum tokens in circulation with a market capitalisation of $218,811,696,814.
Previously. Mind reported that the Ethereum update would unlock about $33.73 billion frozen in stakes.
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