![]() ![]() Source: Dune AnalyticsĪccording to reports, the upgrade has been “a major catalyst” for decentralized liquid staking solutions. ![]() ![]() The two largest gainers, Frax Finance and Rocket Pool have recorded net inflows of $56 million and $68 million, respectively. Analysts predicted that the event would be a significant milestone for the $225 billion network, likely increasing staking participation, attracting institutional investors, and reshuffling competition among staking services.Īccording to reports, Ether deposits have increased significantly in decentralized protocols. Ether Staked on Decentralized Protocols Increasesįollowing Ethereum’s highly anticipated Shanghai upgrade on April 12, investors were able to withdraw approximately $35 billion worth of Ether previously held in staking contracts. The staking service of the world’s largest crypto exchange, Binance, has experienced a net discharge of $340 million. Blockchain data reveals that centralized crypto exchange giants Binance and Coinbase have experienced significant outflows of staked ether (ETH) since Ethereum‘s Shanghai upgrade, as investors migrate to decentralized competitors.Īccording to a Dune Analytics data dashboard, Coinbase’s staking platform has experienced a $367 million net outflow of staked ether since April 12, as withdrawal requests – including reward withdrawals and full exits – have outpaced new deposits. ![]()
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