- Ethereum’s recent Shanghai upgrade has had a significant impact on staking.
- The net staking ratio has surged by an impressive 147% following the implementation of the Shanghai Upgrade, as revealed by Token Unlocks data.
- A significant portion of the current ETH staking, precisely 25%, has come into play after the successful update.
The highly anticipated Ethereum Shanghai upgrade has had a profound impact on the sector, setting off a wave of growth and heightened interest. According to data provided by Token Unlocks, a prominent crypto analytical platform, the upgrade has spurred notable developments, particularly in the realm of ETH staking.
One of the most remarkable indicators of this surge is the substantial increase in staked Ethereum. A staggering 22.99 million ETH, equivalent to approximately 18.86% of the total circulation, have been staked overall.
However, the data gets even more intriguing when considering the specific timeframe since the Shanghai upgrade. A remarkable 5.84 million ETH, constituting approximately 4.8% of the circulation, have been staked during this period, illustrating the remarkable growth directly influenced by the upgrade. The net staking ratio has surged by an impressive 147%.
Perhaps one of the most notable insights is the fact that a significant portion of the currently staked ETH, precisely 25%, was staked after the implementation of the Shanghai Upgrade. This statistic underlines the substantial impact of the upgrade on the overall ecosystem, attracting new stakeholders who recognize the value and potential offered by Ethereum.
The bullish momentum stemming from the Shanghai Upgrade has been instrumental in driving the sector’s growth, while simultaneously boosting the prominence of Ethereum as a leading blockchain platform.
The Ethereum network completed the “Shanghai” upgrade, also referred to as “Shapella,” on April 12, 2023. This significant update allowed validators to withdraw staked ETH for the first time and marked a significant step towards Ethereum’s long-term transition to a fully proof-of-stake network.
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