Simply putETH has cleared the psychological barrier of $2000.Nearly $500 million in ETH has been withdrawn
Simply put
- ETH has cleared the psychological barrier of $2000.
- Nearly $500 million in ETH has been withdrawn.
- The current withdrawal queue is 1.07 million ETHs.
Ethereum is booming today, soaring by over 10%, reaching its highest price in nearly a year. Meanwhile, the ETH pledge withdrawal did not have any negative impact on the market.
As the assets broke through the psychological threshold of $2000, the market sentiment of Ethereum turned bullish.
The successful upgrade of Shapella this week has driven the development momentum of ETH, and the price has climbed to an 11 month high.
At the time of writing, ETH changed hands at $2115 after a 24 hour surge of 10.4%. In addition, its performance outperformed Bitcoin, which rose only 2% that day.
As a result, Ethereum's market dominance increased to slightly less than 20%, while Bitcoin was replaced.
Earlier this week, BeInCrypto predicted that there would be no large-scale sell-off after Shapella.
StackedEthereum withdrawal update
According to industry analyst Colin Wu, nearly 240000 ETH has been extracted within 30 hours after the upgrade. However, approximately 100000 ETH has been deposited, which means a net pledge balance of -139000 with a value of approximately $277 million.
According to TokenUnlocks data, there are approximately 1.07 million ETHs waiting to be extracted, worth approximately $2.26 billion.
Wu pointed out that 63% of them come from Kraken, whose pledge services have been suspended by the US Securities and Exchange Commission (SEC).
He added that Coinbase accounts for 11% and Firecoin accounts for 5.1%. The liquidity mortgage platform Lido has not yet opened for withdrawal, accounting for 31% of the mortgage ETH.
TokenUnlocks predicts that the number of ETHs extracted will decrease in the future.
The 'Lookonchain' confirms the reported figure that 239882ETH, worth approximately $504 million, has been extracted. It added that the Lido address extracted 152780ETH, which is approximately 63.7. However, the pledgee on the platform cannot exit yet.
According to Nansen, there have been several instances of deposits exceeding withdrawals in the past day.
ETH's bullish future
On April 13th, Cameron Winklevoss commented that the Shapella upgrade is an incredible milestone in the Ethereum network.
Despite media FUD and regulatory attacks, the smartest people continue to establish cutting-edge technologies to decentralize power structures and create a more accessible financial system for everyone
He added that it is clear that the authorities do not want this. That's why they are fighting under the guise of 'consumer protection', "he added." Don't be fooled
The market reacted positively today, with a total capitalized return of 4.4%, approximately $53 billion.
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