The total number of staked ETH withdrawn from the network since the Shanghai update went live last week has surpassed 1 million tokens valued at over $2 billion. The price of ether is now above the $2,100 region.
After several months of planning, the highly anticipated Ethereum Shapella upgrade went live on April 12, officially enabling the withdrawal of staked ether tokens locked in the beacon chain since the merge event on September 1. .
According to the latest data, over a million ETH tokens valued at over $2.1 billion have been withdrawn by participants since last week, with approximately 651 ETH units awaiting withdrawal. At the same time, around 373.39k ETH was deposited for staking purposes.
For current ethereum data staking17,915,419 ETH are currently staked on the beacon chain by 561,655 validators at an Annual Percentage Rate (APR) of 4.9%.
Despite initial fears from the ethereum faithful that allowing withdrawals could trigger short-term selling pressure, the price of ether has continued to rise since the Shanghai update went live.
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At the time of writing, the price of ether (ETH) is hovering in the region of $2,100, which is a 10% increase over the past seven days. Ether currently has a trading volume of $10.1 billion, according to CoinGecko.
