After the successful Shapella upgrade on April 12, more Ethereum (ETH) is now being staked than being withdrawn for the first time. Data from on-chain analytics firm Nansen shows that as of April 17, the amount of ETH being staked exceeded the withdrawal volume, with ETH staked at 124,000 ETH and withdrawals at 64,800 ETH. The majority of validators are re-staking their unlocked Ether, contrary to concerns of mass selling of the token. Most early withdrawals are staking rewards, and some validators had to exit due to regulatory compliance reasons. Currently, 22,231 validators have signed up for a full exit, out of a total of 574,624, while 910,930 ETH out of the 18.6 million ETH is slated to be withdrawn. The average price of staked ETH is around $2,137.

(By PRASHANT JHA)