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Ether Holders Rush to Stake Tokens as Total Volume of Crypto-Asset Staked Surpasses 20 Million

The recent Shapella upgrade on the Ethereum network has led to a surge in deposit activity, with ether holders rushing to stake their tokens with network validators. This has resulted in the total volume of crypto-asset staked exceeding 20 million, a significant milestone.

The influx of staking activity appears to have been driven by institutional staking service providers and investors reinvesting rewards after withdrawal.

Lido Finance, a major staking platform, has taken center stage after the success of Shapella, allowing anyone to stake any amount instead of depositing directly to the mainnet. Despite being one of the largest liquid staking protocols on Ethereum, Lido has only processed 0.42% of the withdrawals so far.

Ethereum Ethereum $3,338.31
-3.88%
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