Ethereum beacon chain sees 1.37 million ETH moved in wake of Shapella
On April 12, the Ethereum Shapella upgrade that allowed the withdrawal staked ETH went live. In the 10 days since the Shapella update was turned on, IntoTheBlock gives information about what happened on the ETH network. 1.37 million ETH have already been withdrawn, claims IntoTheBlock.
Notably, this has not been the only aspect; with the Shapella update, deposits have also increased. There have been 650,000 ETH deposits, according to IntoTheBlock. In light of this, there has been a net withdrawal of 720,000 ETH.
Withdrawals from Ethereum’s Shapella upgrade staking contract have begun this week. 1.37M ETH has already been withdrawn and 650k ETH deposited, resulting in net withdrawals of 720k ETH. #Ethereum
— IntoTheBlock (@intotheblock) April 22, 2023
According to reports, the proportion of deposits made by staking providers has drastically changed due to the Ethereum Shapella upgrade. Staking share for Asian CEXs and institutional staking providers has unexpectedly increased, according to IntoTheBlock.
According to a recent ACDC teleconference, Ethereum developers are preparing for the following significant update after the successful Shapella upgrade.
According to Wu Blockchain, Ethereum developers intend to test EIP 4844 by creating their fifth devnet next week. EIP 4788 and 3175 may also be a part of the future upgrade.
The new ACDC call was about planning for the next major upgrade. Ethereum Devs are planning on launching their 5th devnet to test eip 4844 next week and eip 4788 and 3175 look like strong candidates to include in the deneb upgrade. By @christine_dkim https://t.co/7egK3qpEpA
— Wu Blockchain (@WuBlockchain) April 22, 2023
Following a market-wide decline that started on April 19, Ethereum reached a low of $1,824 on April 21. Santiment discovered significant latent activity on the Ethereum network before the sell-off, including two addresses that moved equal amounts of ETH idle for nearly five years.
“A pair of Ethereum addresses have moved 150k ETH (worth $297M) after holding these coins since late 2018. These have aided in creating one of the largest dormant circulation spikes in the past year. Read our latest insight about these whale moves”, Santiment reported.
After holding these currencies since late 2018, a pair of Ethereum addresses transferred 150,000 ETH worth $297 million on April 18. Both held 150,000 ETH in total as of November 2018 and simultaneously sold off their whole supply.
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