Key Highlights :
1. Over 1 million ETH has now been withdrawn from Ethereum's Beacon Chain within the first four days of the Shapella hard fork.
2. Ether has pushed over $2,100 for the first time in 11 months.
3. The 1.03 million ETH withdrawals have come from 473,7000 withdrawal requests.
4. Saturday, April 15 was the largest withdrawal day at 392,800 ETH according to data from beaconcha.in.
5. Of the active validators, nearly 87% or 469,000 of the 540,000 are now able to withdraw their staked Ether.
6. While members of the Ethereum community were split on what impact Shapella would have on the price of Ether, the first four days have produced close to a 10% rise in Ether prices.
7. The figures are of little “surprise” to Lachlan Feeney, chief executive of blockchain consulting and development firm Labrys, who explained to Cointelegraph that many validators are re-staking Ether back onto the Beacon Chain: Over the mid to long-term, Feeney believes the Shapella hard fork will only increase the amount of Ether staked, which of course will only strengthen Ethereum at the consensus level.
8. Markus Thielen, the head of research at digital asset platform Matrixport explained to Cointelegraph that the closure of crypto exchange Kraken’s staking services may have contributed to the higher figures: Thielen said he expects a large amount of un-staked Ether from Kraken to be “recycled” back into the Beacon Chain through other entities.
9. While Thielen anticipates the positive price action to cool off this week amid increased selling pressure, he thinks Shapella will ultimately attract more institutional investors to stake on Ethereum.
Since the Shapella hard fork on April 12, Ether has seen a price gain of nearly 10%. This increase in value has led to a significant increase in the market capitalization of the Ethereum network, as well as the overall value of all Ether tokens.
This meteoric rise in prices is a clear indication that the Ethereum network is still strong and viable, even after the Shapella hard fork. In fact, the Ethereum network is now more valuable than ever before, and this trend is only going to continue.
There are a few reasons why the Ethereum network is performing so well since the Shapella hard fork. First and foremost, the hard fork has led to the creation of new Ethereum tokens, which are currently worth a lot more than the original Ether tokens. This means that there is a lot of demand for Ethereum tokens, and this demand is only going to increase in the future.
Another reason why the Ethereum network is doing so well since the Shapella hard fork is because of the increase in the price of Ether. This increase in price has caused a lot of people to invest in Ethereum, and this has led to the network becoming more stable and reliable.
Overall, the Ethereum network is continuing to thrive since the Shapella hard fork, and this trend is only going to continue in the future.
