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Ethereum's Network Activity Remains Flat Despite Price Rise, Staking Deposits Increase Since Shapella Launch

Despite a rise in price, Ethereum's network activity has not seen a significant increase. However, staking deposits have increased since the launch of the Shapella Upgrade, as many Ethereum holders are looking to enjoy staking yields instead of cashing out in the market. The total number of transfers to all centralized exchanges has remained flat.

As of June 5th, the transaction count has dropped by more than 25% since the BTC ETF announcement, while gas prices have only increased by 28.5%.

Bitcoin Bitcoin $93,482.66
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