As the Ethereum Shanghai upgrade approaches, the amount of ETH staked on the Beacon Chain has reached a staggering $34.2 billion, accounting for approximately 14.95% of the total ETH supply. According to OKLink’s statistics, the amount of Ethereum mortgaged is about 18,006,600 ETH.
The Ethereum network has undergone a transition from PoW to PoS in September 2022, allowing users to become validators by staking 32 ETH. Currently, there are 564,239 validators on the network. The Annual Return Rate (APR) for staking on the Beacon Chain is 3.74%.
Source: OKLink
Lido leads the liquidity staking protocol with 31.43% of all ETH staked with 5.65 million tokens. Coinbase ranks second, with 12.62% of ETH mortgaged, or about 2.27 million ETH. Kraken is in third place with 6.93% or 1.24 million ETH staked.
After the successful implementation of Shanghai, stakers can withdraw their deposited ETH. The upgrade is expected to bring major improvements to the ethereum network, such as increased transaction throughput and lower gas fees.
However, Santiment data shows that the top 10 exchange addresses are hitting new all-time lows, while the top 10 non-exchange addresses continue to rise. This discrepancy is particularly relevant to the current market situation, and it remains to be seen what this means for the Ethereum network in the long run.
Source: Santiment
The large amount of ETH locked on the beacon chain shows a high level of trust in the Ethereum network and the transition to PoS. Staking is also growing in popularity, allowing users to earn rewards for contributing to network security.
Overall, the Ethereum Shanghai upgrade promises to bring significant improvements to the network, and the large amount of ETH staked on the Beacon Chain underscores the community’s commitment to the success of the network. However, the stark discrepancy between exchange addresses and non-exchange addresses suggests that there may be some challenges to overcome in the coming days.
- Ethereum’s Shanghai upgrade could put $2.4 billion selling pressure on ETH
- $4 Billion ETH Not Added to Ethereum Supply After Consolidation – Will Shanghai Help Prices Rise?
anne
according to Kyptos
