Although the governance tokens of top liquid pledge platforms are soaring, the fate of pledged ETHs is not the same. According to the data of DuneAnalytics, as of the time of writing, 77
Although the governance tokens of top liquid pledge platforms are soaring, the fate of pledged ETHs is not the same. According to the data of DuneAnalytics, as of the time of writing, 77.6% of the mortgage Ethereum (ETH) was underwater. Only those who lock ETH at the current level or lower are profitable. This only accounts for 22.4%.
According to the statistical data of Dune, there are 15.9 million ETHs, accounting for 13.2% of the total supply of Ethereum. At current prices, the entire inventory is worth $20 billion.
Since the middle of November, the number of Ethereum (ETH) pledged every week has dropped significantly, and is currently near the lowest level. According to Dune, nearly 25000 ETHs have been mortgaged in the past week. Prior to the FTX crash, an estimated 150000 ETH was pledged every week.
Will Ethereum sell off after upgrading in Shanghai?
Ethereum's Shanghai upgrade will allow pledgers to unlock their ETHs, some of which have been locked since 2020. Based on current data, investors seem unlikely to sell their ETH at a loss, especially since it has been locked in for a long time. However, if the price of Ethereum soars, the possibility of selling will increase.
In addition, another Dune dashboard showing real-time traffic of Ethereum stakeholders said that the number of holders had not decreased. The dashboard also indicates that stakeholders are still making profits. Blockworks researcher Dan Smith said,
"PoS Ethereum is the most economical in history."
In addition, the transaction volume of Ethereum Network launched in 2022 is four times that of Bitcoin Network. However, Bitcoin remains the most popular Cryptocurrency, with 28.4 million searches on Google.
The price of ETH has now risen to its highest point since mid December. Nevertheless, it is still 74.4% lower than its peak in November 2021.
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