In a significant development, the recent Shanghai upgrade has resulted in total Ethereum deposits exceeding withdrawals, resulting in a net inflow of 32,000 ETH. the current pending withdrawal amount stands at 266,000 ETH, indicating strong investor interest in the popular cryptocurrency.
ETH Deposits Surpass Withdrawals Post-Shanghai Upgrade
The Shanghai upgrade, which was implemented on April 15, 2023, has had a significant impact on Ethereum deposits and withdrawals. The upgrade included several improvements to the Ethereum blockchain, including changes to the mining algorithm and the introduction of new features like sharding and Casper.
the total ETH deposits since the upgrade stand at 2.32 million ETH, while the total withdrawals stand at 2.28 million ETH, resulting in a net inflow of 32,000 ETH. This is a significant development as it indicates growing investor interest in the cryptocurrency.
Pending Withdrawals at 266,000 ETH
the current pending withdrawal amount stands at 266,000 ETH, indicating that investors are still holding onto their Ethereum. This is a positive sign for the cryptocurrency as it indicates that investors are bullish on its long-term prospects.
Experts believe that the recent upgrades to the Ethereum blockchain have made it more attractive to investors, especially in light of the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Analysts Predict Bullish Trend for Ethereum
Several analysts predict a bullish trend for Ethereum in the coming months, with some predicting that it could reach new all-time highs. This is due to several factors, including the growing interest in DeFi and NFTs, as well as the recent upgrades to the Ethereum blockchain.