ETH Staking Deposits Exceed Withdrawals After Shapella Upgrade

Investors have deposited a total of 192,000 ETH over the course of the preceding twenty-four hours, yet they have only withdrawn a total of 29,000 ETH altogether. This suggests that the amount of Ether being staked is currently more than the amount being withdrawn. Since the Shapella update that took place in April, this is the very first time that the total amount of ETH that has been withdrawn from the Shapella platform is less than the total amount of ETH that has been staked on the platform.

There has been a significant increase in the amount of Ethereum that is being burned on the Ethereum network in recent days, with over 61,000 ETH being used up in just the past week alone. This comes on the heels of a surge in the amount of activity that has been going place with staking in recent times. Uniswap, which is the most active decentralized exchange in terms of trading volume and was responsible for the destruction of almost half of the ETH, is virtually solely to blame for this situation.

The Ethereum foundation has made some early decisions with an eye toward the future regarding which Ethereum Improvement Proposals (EIPs) would be included in the upcoming major Dencun upgrade. These decisions were taken in consideration of the future. EIP-4844, which is also known as the Surge, is something that should particularly pique your curiosity. It is predicted that the adoption of this update would result in a large cut in the transaction fees that are incurred by Ethereum’s Layer-2 networks.

The Ethereum Attestation Service (EAS) has been updated so that users can now validate any form of file using it. The project was made accessible to the general public on both the mainnet and the Arbitrum network in the month of March. EAS is a public good that does not utilize tokens and aims to give a useful tool for certifying the quality of data and prevents bad actors from doing so. It does not use tokens because it was designed to be a public benefit.