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- Coinbase holds the highest amount of staked deposits, with over 55,000 ETH available for withdrawal.
- There are more addresses depositing Ethereum than withdrawing it.
Following the Shanghai update, Ethereum stakers are now able to withdraw their funds. Many individuals had been waiting since the staking feature was first introduced in December 2020. A notable insight from this development is that Kraken’s U.S. staking clients appear to have been largely removed from the system.
This situation arose after the cryptocurrency exchange faced regulatory actions in February, resulting in a $30 million settlement with the SEC and the cessation of its staking services for U.S. users.
Coinbase has the largest amount of staked deposits, with over 55,000 ETH ready for withdrawal. Another important observation is that more addresses are depositing Ethereum compared to those withdrawing it, indicating a positive net amount of Ethereum being staked.
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At current rates, this equates to approximately $189 million USD, or 97,586 ETH. This suggests that there remains considerable interest in staking Ethereum to earn additional payouts in ETH.
Some analysts view this as favorable for the asset, as fewer Ethereum will be available for trading in the open market once fully committed to staking. Ultimately, this trend continues to significantly benefit Lido Finance, the leading platform in liquid staking.
Nansen reports that the 6 million Ethereum staked by Lido represents 79% of the total market of tracked organizations. Coinbase ranks second, holding 15% of the market.
As per CMC, the current price of Ethereum is $1,911.33 USD, with a 24-hour trading volume of $6,708,512,867 USD. Ethereum has increased by 1.38% over the last 24 hours.
