Statistics indicate that Ethereum deposits have exceeded withdrawals for the first time since the Shapella hard fork a week ago. Just under a million Ether, worth close to $2 billion, is currently pending withdrawal, and over the past three days, 112,568 Ether has been added to liquid staking protocols such as Frax, Lido, and Rocketpool. The withdrawal queue can take days for people, and some unstaking participants may wait close to 20 days to unlock their funds. The annual percentage rate (APR) for staking Ethereum is currently 4.87%, and network fees have increased, with the average Ethereum network transaction fee at $12.45 per transfer.

(By Jamie Redman)