{"id":534840,"date":"2023-05-24T16:30:10","date_gmt":"2023-05-24T16:30:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=534840"},"modified":"2023-05-24T15:34:44","modified_gmt":"2023-05-24T15:34:44","slug":"ethereum-staking-hits-over-40-billion-after-shanghai-upgrade","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\/","title":{"rendered":"Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH"},"content":{"rendered":"<p><span class=\"selectable-text copyable-text\">The Ethereum (ETH) network has reached a significant milestone following the highly-anticipated Shanghai upgrade, as staking activity soars to new heights. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">According to crypto analytics platform <a href=\"https:\/\/twitter.com\/CryptoRank_io\/status\/69703938?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Cryptorank<\/a>, the Ethereum deposit contract balance has exceeded $40 billion, with users depositing over 4.4 million ETH since April 12 (the date of the Shanghai upgrade launch).<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">This surge in <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-staking-takes-a-leap-forward-heres-whats-on-the-horizon\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">staking activity<\/a> marks a pivotal moment for ETH and its transition to a proof-of-stake (PoS) consensus algorithm.<\/span><\/p>\n<h2><span class=\"selectable-text copyable-text\">Staking Frenzy: A Post-Upgrade Milestone<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\">The recent data shared by CryptoRank reveals that the ETH deposit contract balance on May 23 stood at 22.6 million ETH, equivalent to $41.1 billion. This substantial increase in deposits can be attributed to the introduction of the latest feature allowing validators to withdraw their staked tokens.<\/span><\/p>\n<figure id=\"attachment_534841\" aria-describedby=\"caption-attachment-534841\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-534841\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Fwzvwm4WwAE8S_K.jpeg?resize=460%2C259\" alt=\"Ethereum staking exceeds $40 Billion.\" width=\"460\" height=\"259\"><figcaption id=\"caption-attachment-534841\" class=\"wp-caption-text\">Ethereum (ETH) staking exceeds $40 Billion. | Source: <a href=\"https:\/\/twitter.com\/CryptoRank_io\/status\/69703938?s=20\" rel=\"nofollow\">Cryptorank<\/a><\/figcaption><\/figure>\n<p><span class=\"selectable-text copyable-text\">The Ethereum network has experienced a surge in interest, with users seizing the opportunity to participate in staking and earn rewards for supporting the network&#8217;s security and consensus mechanism.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/?s=Ethereum+staking\" target=\"_blank\" rel=\"noopener \">Ethereum Staking Takes A Leap Forward: Here\u2019s What\u2019s On The Horizon<\/a><\/div>\n<p><span class=\"selectable-text copyable-text\">Alongside the growth in deposit contract balance, <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/crypto-expert-predicts-ethereum-eth-to-reach\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a> has offered attractive staking returns. As of today, the staking annualized rate of return for running an ETH validator <a href=\"https:\/\/token.unlocks.app\/ethereum-shanghai\" target=\"_blank\" rel=\"noopener nofollow\">stands<\/a> at 8.66%, providing a meaningful incentive for users to engage in staking. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">This figure remains significant, further driving the interest in staking among <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/gas-crisis-averted-nft-marketplaces-witness-dramatic-reduction-in-ethereum-fees\/\">Ethereum investors<\/a> seeking to maximize their returns.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Furthermore, according to recent <a href=\"https:\/\/token.unlocks.app\/ethereum-shanghai\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a> from Token Unlocks, since the implementation of unstaking on the Ethereum network, investors have deposited 4.68 million ETH into ETH 2.0 contracts. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Simultaneously, approximately 2.83 million ETH has been withdrawn, indicating ongoing investor engagement and confidence in the staking process.<\/span><\/p>\n<h2><span class=\"selectable-text copyable-text\">The Future Of Ethereum Staking<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\">With the Ethereum network surpassing the $40 billion mark in deposit contract balance, the growth in staking activity signifies a strong commitment from the community toward the PoS consensus mechanism. <\/span><span class=\"selectable-text copyable-text\">This development also highlights Ethereum&#8217;s transition to Ethereum 2.0, where staking will play a vital role in securing the network and achieving scalability.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">As ETH continues to evolve, the surge in staking participation not only contributes to the network&#8217;s security but also offers an opportunity for ETH holders to earn passive income through staking rewards. By actively participating in staking, users can contribute to the growth and decentralization of ETH while reaping the benefits of staking returns.<\/span><\/p>\n<p>Meanwhile, as ETH staking continues to surge, Ethereum founder Vitalik Buterin has warned of potentially overloading the network consensus. In a recently published <a href=\"https:\/\/vitalik.ca\/general\/2023\/05\/21\/dont_overload.html\" target=\"_blank\" rel=\"noopener nofollow\">blog post<\/a>, Buterin noted\u00a0<span class=\"selectable-text copyable-text\">\u201cDon&#8217;t overload Ethereum&#8217;s consensus.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/crypto-expert-predicts-ethereum-eth-to-reach\/\" target=\"_blank\" rel=\"noopener \">Crypto Expert Predicts Ethereum (ETH) To Reach $457,000 \u2013 Here\u2019s How<\/a><\/div>\n<p><span class=\"selectable-text copyable-text\">The Ethereum founder further added that using Ethereum&#8217;s network consensus for other things could bring \u201chigh systemic risks to the ecosystem and should be discouraged and resisted.\u201d However, following the warning, ETH staking hasn&#8217;t seen any decline so far but only an uptick.<\/span><\/p>\n<p>Over the past 24 hours, ETH has seen a plunge, down by 3.6%. The second-largest <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-and-ethereum-supply-plummet-to-record-lows\/\" target=\"_blank\" rel=\"noopener \">crypto asset<\/a> by market capitalization has dropped from a high of trading slightly above $2,000 in recent weeks to trade below $1,800, at the time of writing.<\/p>\n<figure style=\"width: 2768px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/7TTep7j5\/\" alt=\"Ethereum (ETH)\u2019s price chart on TradingView\" width=\"2768\" height=\"1556\"><figcaption class=\"wp-caption-text\">Ethereum (ETH)\u2019s price is moving sideways on the 4-Hour chart. Source: ETH\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AETHUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum (ETH) network has reached a significant milestone following the highly-anticipated Shanghai upgrade, as staking activity soars to new heights. According to crypto analytics platform Cryptorank, the Ethereum deposit contract balance has exceeded $40 billion, with users depositing over 4.4 million ETH since April 12 (the date of the Shanghai upgrade launch). This surge in staking activity marks a pivotal moment for ETH and its transition to a proof-of-stake (PoS) consensus algorithm. Staking Frenzy: A Post-Upgrade Milestone The recent data shared by CryptoRank reveals that the ETH deposit contract balance on May 23 stood at 22.6 million ETH, equivalent to $41.1 billion. This substantial increase in deposits can be attributed to the introduction of the latest feature allowing validators to withdraw their staked tokens. The Ethereum network has experienced a surge in interest, with users seizing the opportunity to participate in staking and earn rewards for supporting the network&#8217;s security and consensus mechanism. Related Reading: Ethereum Staking Takes A Leap Forward: Here\u2019s What\u2019s On The Horizon Alongside the growth in deposit contract balance, Ethereum has offered attractive staking returns. As of today, the staking annualized rate of return for running an ETH validator stands at 8.66%, providing a meaningful incentive for users to engage in staking. This figure remains significant, further driving the interest in staking among Ethereum investors seeking to maximize their returns. Furthermore, according to recent data from Token Unlocks, since the implementation of unstaking on the Ethereum network, investors have deposited 4.68 million ETH into ETH 2.0 contracts. Simultaneously, approximately 2.83 million ETH has been withdrawn, indicating ongoing investor engagement and confidence in the staking process. The Future Of Ethereum Staking With the Ethereum network surpassing the $40 billion mark in deposit contract balance, the growth in staking activity signifies a strong commitment from the community toward the PoS consensus mechanism. This development also highlights Ethereum&#8217;s transition to Ethereum 2.0, where staking will play a vital role in securing the network and achieving scalability. As ETH continues to evolve, the surge in staking participation not only contributes to the network&#8217;s security but also offers an opportunity for ETH holders to earn passive income through staking rewards. By actively participating in staking, users can contribute to the growth and decentralization of ETH while reaping the benefits of staking returns. Meanwhile, as ETH staking continues to surge, Ethereum founder Vitalik Buterin has warned of potentially overloading the network consensus. In a recently published blog post, Buterin noted\u00a0\u201cDon&#8217;t overload Ethereum&#8217;s consensus.\u201d Related Reading: Crypto Expert Predicts Ethereum (ETH) To Reach $457,000 \u2013 Here\u2019s How The Ethereum founder further added that using Ethereum&#8217;s network consensus for other things could bring \u201chigh systemic risks to the ecosystem and should be discouraged and resisted.\u201d However, following the warning, ETH staking hasn&#8217;t seen any decline so far but only an uptick. Over the past 24 hours, ETH has seen a plunge, down by 3.6%. The second-largest crypto asset by market capitalization has dropped from a high of trading slightly above $2,000 in recent weeks to trade below $1,800, at the time of writing. &nbsp; Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":517155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,8323,1946,78803],"class_list":["post-534840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means for ETH<\/title>\n<meta name=\"description\" content=\"The Ethereum (ETH) network has reached a significant milestone following the 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Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means for ETH","description":"The Ethereum (ETH) network has reached a significant milestone following the highly-anticipated Shanghai upgrade, as staking activity soars","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means for ETH","og_description":"The Ethereum (ETH) network has reached a significant milestone following the highly-anticipated Shanghai upgrade, as staking activity 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","eth","ethereum","ethusdt"],"dateCreated":"2023-05-24T16:30:10Z","datePublished":"2023-05-24T16:30:10Z","dateModified":"2023-05-24T16:30:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-staking-hits-over-40-billion-after-shanghai-upgrade\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/ETH-scaled.jpg?fit=2560%2C1655\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"eth\",\"ethereum\",\"ethusdt\"],\"dateCreated\":\"2023-05-24T16:30:10Z\",\"datePublished\":\"2023-05-24T16:30:10Z\",\"dateModified\":\"2023-05-24T16:30:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/ETH-scaled.jpg?fit=2560%2C1655","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/534840"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=534840"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/534840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/517155"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=534840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=534840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=534840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}