Ethereum staking deposits have declined slightly due to increased regulatory pressure and the upcoming Shapella upgrade. Glassnode reported that deposit activities are currently low due to regulatory pressure and the Shanghai upgrade. The Shapella hard fork will enable the phased release of ETH staked on the Beacon Chain. Major centralized exchanges such as Coinbase, Binance, and Kraken have lost market share to Lido, which currently accounts for almost a third of the total amount of ETH staked. Lido takes a 10% commission and offers the potential of earning additional yields on DeFi platforms through its staking token Lido Staked ETH. Analysts have predicted that liquid staking platforms such as Lido will get a boost when ETH is released from the Beacon Chain after the Shapella upgrade.

(By MARTIN YOUNG)