Ethereum (ETH) Withdrawn Following Shanghai (Shapella) Upgrade – NewsTo
Ethereum (ETH) Withdrawn Following Shanghai (Shapella) Upgrade

Ethereum (ETH) Withdrawn Following Shanghai (Shapella) Upgrade


After the Shapella upgrade (Shanghai + Capella), a total of 48,840.88 ETH was withdrawn, and it is anticipated that a total of 1.2 million ETH tokens will be withdrawn.

On April 12, at epoch 194048, 22:27 UTC, the Ethereum Shapella upgrade, also known as the Shanghai + Capella upgrade, was successfully initiated, and it was completed 15 minutes later. It made it possible for validators to remove the ETH that they had staked from the Beacon Chain.

According to the data provided by Beaconcha.in, the Shapella upgrade triggered the processing of 18083.69 ETH withdrawals on April 12, with the first 5,413 ETH withdrawals occurring in epoch 194048.

Up to this point in the day, a total of 30676.02 ETH withdrawals have been handled. After the Shapella upgrade, the total number of ETH that has been distributed is 48,840.88, and the number of withdrawals that have been processed exceeds 17,389.

According to the Beacon Deposit Contract, the chain presently possesses 18.16 million ETH, which, at the current price of $1,908.72, is worth a total of $34.67 billion. The number of validators has dropped from 563,065 to 562,725 as a direct result of the Shapella upgrade. Prior to the upgrade, the number of validators has been steadily increasing due to withdrawals made by validators and platforms.

Ethereum (ETH) Withdrawn Following Shanghai (Shapella) Upgrade

According to TokenUnlocks, 2.51 thousand ETH have been deposited in the Beacon chain, and the total number of withdrawal requests stands at 462.58 thousand ETH, which is equivalent to around $570 million. There is presently 17.72 million ETH worth of stakes, although this does not include any received awards.

In the next five days, it is anticipated that more than 1.2 million ETH tokens, which have a value of about $2.3 billion based on current prices, would be withdrawn.

According to Nansen, Huobi is in the first place, with 28.2% of the entities that are waiting for staked ETH withdrawals. This is followed by Others, which has 19.4%, PieDAO, 16.1%, Kraken, 11.4%, and Heavy Dex Trader 0xa3d 10.3%.

The turnover of new and old shareholders in accordance with the sale of the exchange the previous year was the cause of Huobi’s significant increase in the number of staked ETH withdrawals. The transfer of ownership of Huobi will be made by its founder, Li Lin, who will first withdraw some ETH and then redeposit it.

In the meantime, Kraken’s ETH withdrawals are a response to the settlement it reached with the United States Securities and Exchange Commission (SEC) involving the termination of the cryptocurrency staking program and the withdrawal of all staked Ethereum associated with its customers in the United States.

The price of ETH has increased by 3% over the course of the past 24 hours and is presently trading at $1,914. The 24-hour low is currently at $1,860, while the 24-hour high is currently at $1,929. In spite of the fact that some people anticipate that the price of ETH will fall after the Shapella upgrade, the price of ETH has increased.

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