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IntoTheBlock Report Reveals Withdrawal of $1.8 Billion Worth of Ethereum from Staking

A new report from cryptanalytics platform IntoTheBlock says that by the start of the week, Ethereum holders had applied to withdraw 868,631 ETH worth more than $1.8 billion from staking.

Approximately 63% of the ethers pending the completion of the withdrawal operation previously belonged to the stakers of the Kraken cryptocurrency exchange.

And the remaining 37% are divided among themselves by the Lido, Coinbase and Binance platforms.

Lido Finance, the staking platform, leads this group in terms of the number of Ether withdrawal requests.

IntoTheBlock experts analyzed data on the percentage of ETH blocked for staking to the total supply of ether with a similar allocation of assets of competing smart contract platforms such as Solana (SOL), BNB Chain (BNB), Avalanche (AVAX) and Polygon (MATIC).

The study found that Solana and Avalanche are far ahead of other objects of observation.. And Ethereum takes the last place in the group.

In the interpretation of IntoTheBlock specialists, this may reflect the degree of current trust in the Ethereum network in the eyes of asset holders.

“Currently, only 14.4% of the total Ethereum is staking. So far, the latest Shanghai update has not affected investor confidence or affected the total amount of ETH in staking,” IntoTheBlock explained the results of observations.

On Monday afternoon, April 17, the market value of the second largest cryptocurrency by capitalization fluctuated at $2,074..

Ethereum market capitalization reaches $248.4 billion. On a seven-day trend, Ethereum showed an increase of 11.8%.

Earlier, the founder of the investment company Ark Investment Management, Catherine Wood (Catherine Wood) noted that in the current financial crisis, bitcoin and ether can become a truly reliable investment.