Ethereum’s Shanghai upgrade led to a record-breaking weekly inflow of ETH deposits for staking, mainly driven by institutional staking service providers and investors reinvesting rewards. The top five institutional-grade staking service providers staked a total of 235,330 E...
- Ethereum’s Shanghai upgrade led to a record-breaking weekly inflow of ETH deposits for staking, mainly driven by institutional staking service providers and investors reinvesting rewards.
- The top five institutional-grade staking service providers staked a total of 235,330 ETH combined, worth around $450 million.
Record-breaking ETH deposits for staking after Shanghai upgrade
The deposit surge was driven mainly by institutional staking service providers, including Bitcoin Suisse, Figment, Kiln, Staked.us, and Stakefish, who staked a total of 235,330 ETH combined, worth around $450 million.
Restaking rewards and reduced liquidity risk
The increased interest in ETH staking also highlights that enabling withdrawals from Ethereum’s proof-of-stake chain has significantly reduced the liquidity risk associated with locking up tokens.
The top five institutional-grade staking service providers staked a total of 235,330 ETH combined, worth around $450 million. The ability to withdraw tokens from staking contracts has significantly reduced the liquidity risk associated with locking up tokens, which has increased interest in ETH staking.