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Ethereum (ETH) Staking Ratio Surprisingly Keeps Surging Despite Shapella

As such, it is safe to say that the overhyped Ethereum (ETH) upgrade Shapella that allowed stakers to withdraw their coins for the first time since December 2020 did not result in massive unstaking:

Ethereum’s (ETH) Shapella was activated in April 2023. As crypto markets were still dominated by bearish sentiment, analysts were expecting withdrawals and consecutive sell-offs of Ethereum (ETH).

The Ethereum (ETH) price also managed to go through this event without significant losses: as stakers withdrew 1 million Ethers (ETH) in first week post-Shapella, the ETH price was fluctuating between $2,000 and $2,100.

Staked Ethereums (ETH) are mostly profitable, Mr. Ki Young Ju adds. While the realized price for staking inflows is $2,014, the current ETH rate is $2,519. As such, the average Ether “stake” is being held with a significant 25% profit.

The aggregated volume of the Ethereum (ETH) staking ecosystem is estimated at a whopping $72 billion, with 4.25% in APY, Staking Rewards data says.

Meanwhile, the Cardano (ADA) staking ecosystem added 0.06% in the last seven days and is getting closer to 64%. At the same time, the USD-denominated volume of Solana (SOL) staking is over 200% larger than that of Cardano (ADA).

Out of all mainstream altcoins, Mina Protocol (MINA) demonstrates the largest staking ratio: its stakers locked over 91% of the circulating supply.

Aptos (APT) and Sui (SUI) follow the Mina Protocol (MINA) with 85%-86% in staking ratio.

This article was originally published on U.Today


Source: Cryptocurrency - investing.com

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