Ethereum strike grows again for the first time since Shapella upgrade

Last week Wednesday the Shapella upgrade for Ethereum (ETH) took place. Since then, investors have been able to get ETH out again It staking contract, something many users also did after the upgrade. Now, investors are gradually locking in their tokens again on the blockchain.

Ethereum Shapella withdrawals were not too bad

That writes Lookonchain on Twitter. After the Shapella upgrade, validators pulled just over 1 million ETH from the contract. At the current ether price, that is worth about 1.8 billion euros. 22,231 validatoreven made it all their ETH from the contract, possibly because of all the concerns about regulation in the US.

The US Securities and Exchange Commission (SEC) has banned Kraken and others from offering crypto staking to retail customers. Furthermore, a large portion of the recordings immediately after the upgrade consisted of strike returns.

Still, for now, it seems to be not too bad in the grand scheme of things. In total there were 574,624 validators, so the part that left was less than 4%. Also, only 1 million ETH was withdrawn, while according to Ethereum.org at the moment almost 18 million ETH is still tied up in the contract at an annual return of 5.4%. According to data from Dune only 32.8% of stakers are in the green at the current ETH price since committing their tokens to the contract.

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Largest ETH investors back in contract

In addition, it appears that investors are slowly starting to deposit their ETH back into the contract. Of the 20 largest addresses associated with the strike, 13 addresses re-secured their tokens after the withdrawals.

Nansen states that since April 17, the amount that is tied up in the strike contract is again greater than the amount that is withdrawn.

Before the Shapella upgrade could the stake ETH in these contracts not be included. Only major staking service providers enabled you to sell by offering a derivative, as it were. As a result, only a few major providers held the lion’s share of all ether tokens contained in these contracts.

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