There are presently 17.3mln ether still staked, valued at nearly $36bln at current prices

As per the Token Unlocks dashboard, slightly more than a million ether (ETH) has been withdrawn from the Beacon Chain after the Shapella upgrade on April 12.

Though, the staking balance has not reduced by one million as 370k was deposited in the same period.

Therefore, the present staking balance has reduced by 640k ether, as per Token Unlocks.

This indicates that some of the unstaked ether is going back into liquid staking platforms like Lido.

The staked ether balance on Lido has in effect risen by nearly 100k since the Shapella upgrade. It is now slightly more than six million, valued at $12.6bln. Moreover, the Lido share of the total staked has risen to 34.7 per cent. This is also because of the fact that Lido has yet to authorise withdrawals for users of the platform.

There are presently 17.3mln ether still staked, valued at nearly $36bln at current prices.

The Nansen dashboard is displaying a downturn in Ethereum withdrawals which dropped to just 2,415 ether on April 16 when there was 3,008 ether deposited.

According to industry expert Colin Wu, 892k ether is waiting to be withdrawn. Kraken regulatory aspect and Huobi shareholders change are primary sources of withdrawals, Wu stated.

The U.S. Securities and Exchange Commission (SEC) has clamped down on staking this year. It targeted Kraken’s staking services, and Coinbase could be its next target.

As per Nansen, Coinbase accounts for 12.8 per cent of Ethereum depositors, with nearly 2.37mln ether staked.

Price of Ethereum has stayed above the $2k psychological barrier over the weekend. Ether reached a fresh 2023 high of $2,129 during Asian trading session on Monday morning but has pulled back marginally since.

Ether was trading at $2,098, holding on to last week’s gains. The asset has advanced 75 per cent since the start of the year and could be leading markets into a new “altseason.”

Total market capitalization has continued to be stable during the last 24 hours at $1.32trln.