Ethereum's Recent Developments: Staking, Price Predictions, Dormancy, Burning, and Buying Opportunities
Ethereum's Shanghai upgrade led to a record-breaking weekly inflow of 572k ETH deposits for staking, worth over $1 billion, mainly driven by institutional staking service providers and investors reinvesting rewards after withdrawal. The top five institutional-grade staking service providers staked a total of 235,330 ETH combined, worth around $450 million. The increased interest highlights that enabling withdrawals from Ethereum's proof-of-stake chain has significantly reduced the liquidity risk associated with locking up tokens. Investors also chose to restake a large part of the withdrawn rewards, reducing sell pressure and potentially a positive sign for ETH price.
- Ethereum Shanghai Upgrade Brings Record Inflow of 572k ETH Staked in a Week CoinDesk
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- Investor Who Bought Ethereum on Day One Moves ETH After Almost Eight Years of Dormancy: On-Chain Data The Daily Hodl
- Ethereum: Buy the Dip? The Motley Fool
- 8,697 ETH Worth $15M Was Just Burned Benzinga
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