© Reuters ETH Transactions Reach Million-Token-Mark Valued At $2.1B Following Shanghai Upgrade
- More than one million ETH has been shifted since the Shanghai upgrade.
- The Reason for the mass withdrawal is mainly due to Regulatory issues Kraken Huobi.
- Ethereum’s successful hard fork has caused its token price to rise above $2k.
According According to the numbers collected by a tracking site the total number of (ETH), shifted since the Shanghai Upgrade has exceeded one million tokens with a value of $2.1 billion. AdditionallyETH coins currently in circulation are only 373.39k and 651 units are yet to be withdrawn.
Colin WuA well-known Chinese Crypto reporter stated that the enormous number of withdraws was likely caused by Regulatory factors. Kraken Crypto exchange Huobi Global’s shareholders’ changes.
As The time is 10:00 UTC+8 April After the 17th Shanghai The total amount payable for upgrading Ethereum The total amount moved was over 1 million dollars, while 368,000 dollars were deposited. CurrentlyThe number of Ethereum There are 892,000 waiting to be moved. Kraken Regulatory factor Huobi shareholders change are main… pic.twitter.com/7lUIYAnJ7j
— Wu Blockchain (@WuBlockchain) April 17, 2023
Last The week of the Ethereum The blockchain is completed Shanghai hard fork, the protocol’s first major upgrade since “The Merge” In 2022, Its Primary purpose is to allow stakers and validaters to withdraw staked ETH Beacon Chain First time.
According According to official documentation, 17.3 millions ETH is staked on the Beacon ChainThe value of the company is over $36.3 billion. Crypto Analysts have pointed out that although the short-term effects of this upgrade may be unfavorable, the long-term gains are positive for the market.
“It should get very interesting as people anticipate the outcome of such a big unlock,” An influencer named Crypto Tony In an article published early in the month, I suggested that a massive market dump was likely.
The Shanghai Upgrade will begin with the unlocking of 17,000,000 $ETH on 12th. April 10:27pm, Epoch 194048 Long The term is used to refer to the Capella upgrades are good, but short term this should get very interesting as people anticipate the outcome of such a big unlock pic.twitter.com/uA4fBurbXl
— Crypto Tony (@CryptoTony__) April 2, 2023
However, after the hard fork’s successful completion, the Ethereum token’s price rose above $2k, one of its highest values this year. ETH’s seven-day cumulative increase stands at 13%, according to data from the market tracking site, CoinMarketCap. And Over the past 24 hours, crypto traders traded ether tokens worth close to $9 billion.
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