As Ethereum’s ETH/USD Shapella hard fork began, allowing users to withdraw their staked Ether, over 1.03 million ETH worth $2.1 billion was withdrawn within the first four days.
What Happened: According to the beaconcha.in, the withdrawals were made through 473,700 withdrawal requests, the highest withdrawal day being April 15, with 392,800 ETH being taken out.
Nearly 87% of the active validators, which amounts to 469,000 of the 540,000, have withdrawn their staked Ether.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
This represents a significant increase from earlier estimates made by blockchain intelligence firm Glassnode, who initially predicted that only 170,000 ETH would be un-staked after the first week of Shapella.
Nansen, another on-chain analytics firm, slightly overshot this prediction, expecting 1.4 million ETH to be withdrawn during the initial phase of the hard fork.
Price Action: At the time of writing, ETH at $2,074, down 0.75% in the last 24 hours, according to Benzinga Pro.
Read More: Ethereum, Dogecoin Rise Even As Bitcoin Drops Below $30K: Why This Analyst Thinks Apex Crypto Can Hit All-Time High This Year
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
