On April 12, the Ethereum Shapella update that made it possible to withdraw staked ETH became live.
The Shapella update has been active for 10 days, and on-chain analytics company IntoTheBlock offers some insight into what has happened on the ETH network during that time. 1.37 million ETH have already been withdrawn, claims IntoTheBlock.
Incidentally, this has not been the only aspect; with the Shapella update, deposits have also increased. There have been 650,000 ETH deposits, according to IntoTheBlock. In light of this, there has been a net withdrawal of 720,000 ETH.
According to reports, the proportion of deposits made by staking providers has drastically altered as a result of the Ethereum Shapella update. Staking share for Asian CEXs and institutional staking providers has unexpectedly increased, according to IntoTheBlock.
According to a recent ACDC teleconference, Ethereum developers are preparing for the next significant update after the successful Shapella upgrade.
According to Wu Blockchain, Ethereum developers want to test EIP 4844 by creating their fifth devnet next week. EIP 4788 and 3175 may also be a part of the future update.
Ethereum saw large dormant circulation spike before sell-off
After a market-wide decline that started on April 19, Ethereum reached a low of $1,824 on April 21.
On-chain analytics company Santiment discovered significant latent activity on the Ethereum network before the sell-off, including two addresses that exchanged equal amounts of ETH that had been idle for over five years.
After holding these currencies since late 2018, a pair of Ethereum addresses transferred 150,000 ETH worth $297 million on April 18. Each held 150,000 ETH in total as of November 2018 and simultaneously sold out their whole supply.
