Ethereum’s Big Upgrade: 15% ETH Staked & 78% Market Share Dominated By Lido

Ethereum’s Shanghai/Shapella upgrade is just hours away, and there are several interesting data points to consider as the community prepares for this momentous occasion. According to data from Blockchain analytics firm Nansen, there are currently 18,158,199 ETH staked, which represents about 15% of the 120.4m ETH in circulation.

2/ To recap, currently 18,158,199 ETH is staked

• It’s about 15% of the 120.4m ETH in circulation
• 9,456 ETH was staked in the last 24 hours
• The average price of staked $ETH is $2,135
• Top ETH depositors incl. @LidoFinance, @coinbase, @krakenfx, @binance, @stakefish pic.twitter.com/6IMRcnBjFh

— Nansen ? (@nansen_ai) April 12, 2023

In the last 24 hours, 9,456 ETH was staked, with the average price of staked ETH being $2,135. The top ETH depositors include Lido Finance, Coinbase, Kraken Exchange, Binance, and Stakefish. Furthermore, there are currently 141,463 ETH waiting for full exit at the moment.

It’s worth noting that the first ETH withdrawals are likely to come from HuobiGlobal, which has 39,776 ETH in the queue, followed by PieDAO with 22,720 ETH, 0xa3d with 14,592 ETH, 0x07d with 4,320 ETH, and 0x631 with 3,872 ETH.

It takes about two days to process partial withdrawals or rewards for one “round,” and only validators who have provided 0x01 credentials can process full and partial withdrawals. So far, 244,460 validators have updated to 0x01 withdrawal addresses, allowing us to track the number of validators waiting to withdraw.

Finally, Lido maintains its market domination among Liquidity Staking Derivatives (LSDs) with a 78% market share. Still, other LSDs such as Coinbase cbETH, Rocket Pool, Frax Finance, Staked Hound, and StakeWise are also growing.

As the countdown to the Ethereum upgrade continues, these data points provide valuable insights into the state of the Ethereum network and its ecosystem.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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