Staking is doing well on Ethereum – THE April 12 last, the Sanghai update has been deployed on the network Ethereum. This marked the opening of withdrawals for ETH deposited in staking. Contrary to some pessimistic forecasts, this event did not not had negative impact on the staking.
Staking on Ethereum continues to attract
Staking was launched on Ethereum in December 2020 via the launch of the beacon chain. Subsequently, the network finalized its transition to this new mode of consensus in September 2022. However, it will have been necessary to wait April 2023 to be able to withdraw ETH filed in staking.
Shortly before this event, many observers had anticipated a massive exodus of ETH. However, instead of this exodus, the Beacon Chain experienced a impressive wave of deposits. Indeed, since the activation of withdrawals, more than $7.7 billion have been filed. A sum far exceeding that of the ETH withdrawn.
According to data compiled by Arkham Intelligence, the phenomenon has largely calmealthough the drawdowns were significant during the opening.
“While the withdrawals caused a slight decrease in the ether balance locked in the beacon chain, it took only 25 days for this decrease to be erased. Today, the total amount of ether deposited exceeds the April 12 balance by approximately 1.25 million ETH. »
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A Massive Wave of Deposits: Momentum Continues Despite Withdrawals
Withdrawals were activated on April 12 at around 10:30 p.m. At that time, approximately 18.15 million ETH were deposited on the deposit contract. In the week since withdrawals opened, thousands of ETH were withdrawn. For example, the April 15these are close to 400,000 ETH who have been withdrawn. As a result, the withdrawals slightly reduced the Ether balance locked in the beacon chain.
However, it only took 25 days so that this decrease is compensated. Today, the total amount of ETH deposited is greater than the April 12 balance by approximately 1.25 million ETH. Unsurprisingly, the liquid staking protocol Lido was the most regular depositor, with a total deposit amount of more than 15 billion dollars. This represents more than a third of the ETH locked in the deposit contract.
Another notable depositor is figure, a staking provider for institutional clients. This is used in particular by Celsiuswhich transferred a total of almost $600 million to Figment staking service. Figment has staked a total of 147,000 ETH, or $275 million, since April 1.
For its part, the protocol Lido has opened withdrawals of deposited ETH on its liquid staking service. Once again, the leak of ETH announced by some did not take place.
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