Almost one week, after Ethereum's Shapella upgrade went live deposits have begun to outpace withdrawals, and the rate at which Ether is burned has increased substantially.
I read yesterday that approximately 91,500 ETH was deposited and 64,830 ETH was withdrawn, creating a positive net staking balance of roughly 26,680 ETH ($53 million), according to data from token.unlocks.
So, this follows the first positive net staking flow since Shapella went live. The Block reported yesterday that, over the previous 24 hours, 95,000 ETH was deposited against 27,000 ETH withdrawn.
I remember the first crypto asset I invested in was the Coin Fantasy token followed by Eth and I remember how anxious I was about this upgrade when the speculation about it started. It seemed like an eternity.
I noticed that Ethereum is burning more ether since Shapella. This nearly doubled the burn rate of the past 30 days and is significantly more than the post-Merge burn rate of 0.134% per year.
What do you think of deposits that started outpacing withdrawals? What are your predictions?
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