Over $2B Staked Ethereum Withdrawn As The Second-Largest Crypto Hits 11-Month High

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Shapella hard fork began, allowing users to withdraw their staked Ether, over 1.03 million ETH worth $2.1 billion was withdrawn within the first four days.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Nearly 87% of the active validators, which amounts to 469,000 of the 540,000, have withdrawn their staked Ether.

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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Nansen, another on-chain analytics firm, slightly overshot this prediction, expecting 1.4 million ETH to be withdrawn during the initial phase of the hard fork.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.

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