More Than $1,800,000,000 in Ethereum Waiting To Be Unstaked After Shapella Update

It’s been just revealed that there are almost $2 billion in ETH that are waiting to be unstaked. Check out the latest reports about this below.

Accoridng to the latest reports it seems that there are almost $2 billion worth of Ethereum (ETH) that is set to be unstaked after the top smart contract platform’s Shapella update went live last week.

In a new report, crypto analytics platform IntoTheBlock finds that 868,631 of staked ETH, worth more than $1.8 billion at time of writing, are currently in queue waiting to be withdrawn.

“The market intelligence firm’s data also reveals that 104,000 ETH have been deposited into staking within a 24-hour period following the lead smart contract platform’s recent update,” according to the online publication thr Daily Hodl.

IntoTheBlock gives insights on which institutions are most engaged in staking Ethereum, which includes several popular crypto exchange platforms.

“Lido is the leading institution engaged in staking, with others categorized as independent stakers coming in second place, followed by Coinbase, Kraken, and Binance respectively.

63.3% of the ETH waiting to be withdrawn by entities belongs to Kraken.”

An important crypto analyst Benjamin Cowen is updating his outlook for Ethereum (ETH) for the second half of the year as Bitcoin (BTC) enters the $30,000 level.

In a new strategy session, Cowen said that Ethereum might dip lower before seeing new all-time highs.

He also made sure to explain the fact that during the years when the crypto market is in a recovery phase, Bitcoin outperforms altcoins. He also warned about the fact that if the king crypto moves to the downside altcoins could collapse at a much quicker rate.

Regarding the price of ETH today, at the moment of writing this article, ETH is trading in the red, and the coin is priced at $2,084.