Ethereum

After the long-anticipated Shangai/Capella (also known as <a href="https://finbold.com/2-days-ahead-of-ethereums-shapella-upgrade-what-to-expect/" rel="noopener noreferrer nofollow">Shapella</a>) upgrade of the Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) ecosystem enabled withdrawals of staked ETH, the <a href="https://finbold.com/guide/cryptocurrency-staking-guide/#What_is_cryptocurrency_staking" rel="noopener noreferrer nofollow">staking</a> activity on the platform has not only seen an uptick but is writing down record-breaking results.As it happens, the <a href="https://finbold.com/topic/ethereum/" rel="noopener noreferrer nofollow">Ethereum network</a> has received an inflow of 571,950 ETH in the week of April 17, according to the Dune Analytics data <a href="https://dune.com/queries/2222355/3647238?Staking&#43;Interval_e15077&#61;weekly" rel="noopener noreferrer nofollow">dashboard</a> featuring the weekly staking interval of <a href="https://finbold.com/guide/how-to-buy-ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>, created by digital asset <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investment</a> firm 21Shares, and retrieved by Finbold on April 25.Specifically, according to the chart, the staking activity has visibly soared in recent weeks, recording the highest daily number on April 24 (126,080 ETH staked).<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a304a03821984bd2837bbd7cee9c4a07.png" />ETH staking activity over time with focus on deposits. Source: <a href="https://dune.com/queries/2222355/3647238?Staking&#43;Interval_e15077&#61;weekly" rel="noopener noreferrer nofollow">Dune Analytics</a><h2 id="header-0">Institutional interest</h2>As 21Shares’ research analyst, Tom Wan, explained in a <a href="https://twitter.com/tomwanhh/status/1650492544336134150" rel="noopener noreferrer nofollow">tweet</a> and dashboard screenshot that he posted on his profile on April 24, this surge is largely driven by institutional staking service providers and large <a href="https://finbold.com/topic/investing/" rel="noopener noreferrer nofollow">investors</a> seeking to reinvest their rewards following withdrawal.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/51cd8ba516814b05a14026d20d9d3f99.png" />Breakdown on ETH deposits. Source: <a href="https://twitter.com/tomwanhh/status/1650492544336134150" rel="noopener noreferrer nofollow">Tom Wan</a>Indeed, Freddy Zwanzger, Ethereum ecosystem lead at the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> infrastructure platform Blockdaemon, which deals with many institutional clients, had <a href="https://cointelegraph.com/news/shapella-could-bring-institutional-investors-to-ethereum-despite-risks" rel="noopener noreferrer nofollow">predicted</a> the increase in interest post-Shapella. As he earlier told Cointelegraph, large professional investors would take an interest in Ethereum staking opportunities as they would have a clear withdrawal option:<blockquote>“There’s probably going to be a queue for the first couple of weeks. (…) So they might be better off waiting until that comes down to normal levels.”</blockquote><h2 id="header-1">Ethereum price analysis</h2>Meanwhile, the price of Ethereum at press time stood at $1,956, up 7.01% in the last 24 hours and 10.10% over the previous 30 days, as it recovers from the losses of 6.98% accrued across the past seven days, according to the latest data seen on April 26.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a844dd9f50d1433fa51f6bfc74144845.png" />Ethereum 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">Finbold</a>All things considered, whether the positive staking momentum holds – and for how long – will depend on the continuation of interest coming from institutions and other major investors looking for new ways to increase their profit.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com.</a>

Institutional investors flock to stake $1 billion in Ethereum within a week

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