1 million Ethereum was withdrawn after Shapella, the biggest network upgrade since Ethereum’s Merge.
Ethereum said goodbye to the staking system with Merge. However, the issue of withdrawing staked Ethereums has become the main agenda.
Ethereum Withdrawals Rise After Shanghai Upgrade
Ethereum developers have released the Shangai update on the network in two parts to attract staked ETH after Merge. Following this network upgrade, $1.7 million Ethereum was waiting in line for withdrawal.
According to the latest data, one million ETH users returned to their accounts after the upgrade.
The amount of ETH withdrawn since the Shanghai hard fork of Ethereum has exceeded one million.
The Shanghai hard fork, which is part of the Shapella upgrade package, was broadcast on the web on April 12 at block height 6209536.
According to data from Token Unlocks, the total amount of ether withdrawn currently stands at 1.02 million. Meanwhile, ETH deposited since the Shanghai hard fork is at 373,040, creating a net staking balance of -646,210.
Ethereum surged in price after the update and is trading at over $2,000 at the time of writing.
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