Ethereum

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<p class="is-style-lead">Following the recent Shapella upgrade, the proof-of-stake blockchain has now enabled withdrawals for the first time, resulting in a surge of activity among ETH holders who are eagerly staking their tokens with network validators.</p>



<p>As a result, deposit activity has reached its highest level since the implementation of the Shapella upgrade last month.</p>



<h2 class="wp-block-heading" id="a-remarkable-milestone">A remarkable milestone</h2>



<p>Just a month after the successful implementation of Ethereum&#8217;s Shapella upgrade, the network has witnessed a remarkable milestone as the total volume of staked <a href="https://crypto.news/price/ethereum/">ETH</a> has surged past 20 million. </p>



<p>The Shapella upgrade, an important protocol enhancement, introduced various improvements to the Ethereum blockchain, including the enabling of withdrawals for tokens previously locked in staking contracts.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">It has only been a month since Ethereum&#39;s Shapella Upgrade.<br><br>Since then, the total volume of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> staked has surpassed 20 million.<br><br>Here&#39;s a look at the journey leading up to this milestone. <a href="https://t.co/RxHIRTzKjU" target="_blank">pic.twitter.com/RxHIRTzKjU</a></p>&mdash; Binance (@binance) <a href="https://twitter.com/binance/status/1659453920295411714?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 19, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>This pivotal upgrade was finalized in mid-April and has since marked a significant step forward in ethereum&#8217;s ongoing transition from a mining-based system to a more sustainable and energy-efficient proof-of-stake (POS) consensus mechanism. </p>



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<iframe title="What Is the ETHEREUM Shanghai (Shapella) Upgrade: Five Things You Should Know!" width="1020" height="574" src="https://www.youtube.com/embed/nt9d_zISIzo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>It is worth noting that with the Shapella upgrade, the Ethereum blockchain completed its merge upgrade phase, which will allow for the transition to a scalability focus in an upcoming phase, surge.</p>



<h2 class="wp-block-heading" id="other-notable-developments">Other notable developments</h2>



<p>Lido Finance, a prominent player in the staking ecosystem, has emerged as a key platform following the successful implementation of Ethereum&#8217;s Shapella upgrade. </p>



<p>The platform offers users the flexibility to stake any amount of ETH, eliminating the need for users to directly deposit to the mainnet, which typically requires a minimum deposit of 32 ETH.</p>



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<p>Lido Finance recently deployed its v2 iteration on May 15, following a successful on-chain vote. This milestone demonstrates the platform&#8217;s commitment to improvement and delivering features to its users. </p>



<p>As the staking landscape continues to evolve, platforms like Lido Finance play a crucial role in democratizing staking and expanding access to a wider audience. </p>



<p>By offering a flexible staking solution that bypasses the minimum deposit requirement, Lido Finance empowers individuals to participate in Ethereum&#8217;s POS consensus mechanism without significant barriers to entry.</p>



<p>Adding to the excitement, an ethereum whale, known to have participated in the blockchain&#8217;s initial coin offering (ICO), has reemerged after a dormant period exceeding two years. According to Lookonchain, this prominent investor has staked a staggering 4,032 ETH, equivalent to almost $7.4 million.</p>



<p>This impressive move further underscores the growing interest and confidence in Ethereum&#8217;s staking ecosystem as it continues to evolve.</p>



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Staked ETH crosses 20m mark one month after Shapella upgrade

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