Ethereum

<ul><li>Binance’s staking service has experienced a net outflow of $340 million.</li><li>Coinbase has witnessed a $367 million net outflow of staked ETH.</li></ul>Since “Ethereum’s Shanghai upgrade,” the two largest centralized <a href="https://thenewscrypto.com/tag/exchange/" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a>, Binance and Coinbase, have seen significant outflows of staked Ether (ETH) as investors turn to decentralized competitors.According to Dune Analytics data, the world’s largest cryptocurrency exchange, Binance’s staking service, has seen a net outflow of $340 million. In addition, Coinbase’s staking platform has witnessed a $367 million net outflow of staked ETH since April 12 as withdrawal requests, including reward withdrawals and full exits, have outpaced new deposits.The change came after Ethereum’s much-anticipated <a href="https://thenewscrypto.com/ethereum-shanghai-upgrade-goes-live/" rel="noopener noreferrer nofollow">Shanghai upgrade on April 12</a>, which let investors withdraw about $35 billion worth of tokens that had been locked up in staking contracts.Further, on May 1st, <a href="https://thenewscrypto.com/ethereum-news-largest-ethereum-transaction-in-2023-was-detected-will-eth-enter-bull-zone/" rel="noopener noreferrer nofollow">Binance received over $505 million</a> in Ethereum from an unknown wallet, which was the largest transaction in five years from self-custody to a crypto exchange.  However, at the time of writing, ETH was up by around 2% in the last 24 hours and traded at $1,865 with a trading volume of $7.2 billion, as per CoinMarketCap.Moreover, analysts predict that the event will mark a significant turning point for the $225 billion network. And would increase staking participation, drawing in large investors, and shifting the balance of power among staking services.

Top Crypto Exchanges Witnessing Massive Ethereum Outflow?

TheNewsCrypto

2023년 5월 3일에 게재된 다른 기사

CoinDesk Pushes Decentralization ‘To Save Humanity’, Monero (XMR) And Litecoin (LTC) Lead The Way...

Flare Integrates Blockchain APIs on Google Cloud Marketplace for Developers

What is Magic Eden? Part 2

Top Cryptos To Explode In 2023; Shiba Inu (SHIB), Dogecoin (DOGE), And Collateral Network (COLT)

BNB, AVAX, SOL and LTC Current Price Analysis! Target Prediction!

Celsius Calls for Consolidating US and UK Entities Amidst Poor Record-Keeping Allegations

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!