© Reuters Kraken Takes Lead in Cancelling ETH Staking, Nansen Finds
- Kraken The company is at the forefront of ETH stake cancellations.
- Twitter Users link the Huobi ETH staked withdrawal surge to the handover of new and existing owners.
- The Shanghai Update (Shapella( is now live.
As per a recently released report by Nansen, Kraken tops the list of exchanges with the most amount of ETH staked and waiting to be withdrawn. The US-based cryptocurrency trading platform had 70.8% of the total ETH withdrawable, according to the report.
Total Source: ETH withdrawable charts Nansen
The investigative study also revealed other popular exchanges in the process of cancelling their ETH staking. These Included Coinbase (NASDAQ:), with 6.56% of the total withdrawable ETH. Huobi. SeychellesExchange based on cryptocurrencies with 5.78%. On The other hand “Others” The fourth spot on the list was occupied by a 4.5% share of the total withdrawable ETH. CreamAt the time of press,, an open-source protocol that is not tied to blockchain, had 3.42%.
HoweverBitcoin proponents on Twitter have linked the current surge in ETH staked withdrawals to the transfer of old and new owners. Huobi. One Users claim that Li LinThe founder of Huobi, made a handover after the withdrawal request was made. This could have resulted in more withdrawals and deposits than usual, thus leading to the platform’s recent spike in ETH withdrawals.
This Comes amidst the Shanghai (Shapella) UpgradeThe combines changes to Ethereum’s execution layer (Shanghai upgrade), consensus layer (Capella Upgrade (and the Engine API. The Shanghai Update for EthereumThe transformation of is already in place. Ethereum A “proof of stake” Blockchain, which consumes over 99% less electricity than the “proof of work” Blockchain is the technology that drives the network.
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