More than 1 million Ether have been withdrawn since Ethereum’s Shapella upgrade went live

By Selena 04/17/23 5:47 AM

As of April 17, after the Shanghai upgrade, the total amount of Ethereum withdrawn exceeded 1 million, and 368,000 were deposited. Currently, the number of Ethereum waiting to be withdrawn is 892,000; Kraken regulatory factor and Huobi shareholders change are the main sources of withdrawals, but it should be noted that Lido has not yet opened withdrawals.

1 million Ether has been withdrawn since Ethereum’s Shanghai hard fork

Since Ethereum’s Shanghai hard fork, more than 1 million Ether have been withdrawn. On April 12, just before 6:30 p.m. EDT, the Shanghai hard fork, a component of the Shapella upgrade package, became live at block height 6209536. For the first time since Beacon-chain deposits started in late 2020, it allowed Ethereum stakers to withdraw their ether payouts.

Data from token.unlocks shows that 1.02 million ether currencies have been withdrawn altogether. Since the Shanghai hard fork, 373,040 ether has been deposited, resulting in a net staking amount of -646,210.

The amount of ether withdrawn on an hourly basis has trended downward | Source: token.unlocks

About 15% of the total supply of ether is still deposited (excluding staking rewards). This corresponds to 17.30 million Ether, equivalent to $36.1 billion.

After reaching $3 billion yesterday, the total amount of Ether pending withdrawal (including awards) is now under $2 billion. There are presently 877,880 ether worth $1.84 billion in withdrawal queues.

Over the next 11 hours, an anticipated $62.65 million will be withheld, bringing the daily withdrawal average to $125.23 million.