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Bankrupt crypto lender Celsius has resumed staking Ethereum (<a href="https://cryptoslate.com/coins/ethereum/">ETH</a>), according to data shared by Arkham Intelligence.
Arkham <a href="https://twitter.com/ArkhamIntel/status/1658047279888998401?s=20">reported</a> that the bankrupt lender staked 30,800 ETH — $56.9 million — via staking solutions provider Figment during the past week. A research analyst at 21Co, Tom Wan, <a href="https://twitter.com/tomwanhh/status/1657995466993446913?s=20">corroborated</a> the Arkham report.
According to Wan, Celsius deposited over 40,000 Ethereum through Figment between May 10 and May 12.
The reason behind this deposit is currently unknown, considering Celsius <a href="https://twitter.com/lookonchain/status/1646712637424807937?s=20">withdrew</a> part of its staked ETH in April. At the time, industry players interpreted this as a move that the bankrupt firm was consolidating its assets.
Celsius remains one of the biggest firms with a staked ETH portfolio. According to the Arkham Intelligence <a href="https://platform.arkhamintelligence.com/explorer/entity/celsius-network" target="_blank" rel="nofollow noopener">dashboard</a>, the lender holds 410,378 staked ETH worth $749.37 million.
Meanwhile, Celsius transactions are not altogether surprising given that several entities that withdrew their staked ETH have begun re-staking them. Liquid staking derivatives protocol Lido has led the charts in staked ETH withdrawals and deposits over the past few weeks, according to Nansen&#8217;s dashboard.
<h2 id="total-eth-staking-deposits-soar-above-withdrawals">Total ETH staking deposits soar above withdrawals.</h2>
The total number of staked ETH reached a new all-time high of 21.62 million worth $39.5 billion — as staking deposits have surpassed withdrawals — according to Etherscan <a href="https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa">data.</a>
Since withdrawals were enabled on April 12, the total number of ETH withdrawn stands at 2.67 million, while ETH deposited is at 3.46 million. This means there is a net staking balance of 785,000 ETH, according to Token Unlocks <a href="https://token.unlocks.app/ethereum-shanghai">data</a>.
<figure id="attachment_325166" aria-describedby="caption-attachment-325166" style="width: 499px" class="wp-caption aligncenter"><img class="size-full wp-image-325166" src="https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-15-141628.jpg" alt="ETH Deposits and Withdrawals" width="499" height="249" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-15-141628.jpg 499w, https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-15-141628-300x150.jpg 300w" sizes="(max-width: 499px) 100vw, 499px" /><figcaption id="caption-attachment-325166" class="wp-caption-text">Source: Token Unlock</figcaption></figure>
Nansen&#8217;s data corroborates the above. According to its <a href="https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ?utm_campaign=shanghaiupgrade_12apr23&amp;utm_medium=social&amp;utm_source=twitter">dashboard</a>, several crypto entities like Kraken and other centralized exchanges led the initial <a href="https://cryptoslate.com/kraken-withdraws-330k-eth-amid-regulatory-pressure-deposits-outpace-withdrawals-in-staking-race/">wave of withdrawals</a> in compliance with the regulatory pressure they faced from U.S. financial regulators.
However, as these entities&#8217; withdrawals began to subside, liquid staking protocols like Frax Ether and Rocket Pool have seen the total value of assets locked on their platforms <a href="https://cryptoslate.com/liquid-staking-protocols-tvl-could-flip-dexs-tvl-soon/">increase</a> by double digits within the past month, according to DeFillama <a href="https://defillama.com/categories">data</a>.
The post <a rel="nofollow" href="https://cryptoslate.com/bankrupt-celsius-stake-57m-worth-of-ethereum-arkham/">Bankrupt Celsius stake $57M worth of Ethereum: Arkham</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bankrupt Celsius stake $57M worth of Ethereum: Arkham

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