Since the enabling of ETH withdrawals, there are more validators on Ethereum.
Validators waiting to get out of staking are fewer and fewer.
The Shapella update, activated on April 12 on Ethereum, has had a positive effect on the network so far. The freedom to withdraw staked ethers (ETH) seems to motivate more validators to contribute to the security of the network, with more than 60,000 waiting their turn to be able to stake.
According to a report by Coin Metrics, from mid-May to the date of writing this article, More than 10,000 users joined the queue to enter Ethereum as a validator. The network allows the entry or exit of 1,800 validators per day, the document details.
This long waiting line is the highest since the creation of the Beacon Chain in December 2020, indicates the cited source. On the contrary, the number of validators waiting for their chance to get out of staking goes down. It fell from 11,000 at the beginning of the month to less than 1,000 today.
In total, 1.1 million validators have already exited Ethereum staking, according to Token Insights. Despite this, there are more than 581,000 validators at the close of this note, and the index will reach a record of approximately 640,000 validators when all those who are waiting enter.
ETH movements after Shapella
As reported in CriptoNoticias, a few days after Shapella, one million ETH had already been withdrawn from the network’s staking. Nevertheless, the net balance was almost always positiveaccording to data shared on Dune Analytics by analyst hildobby.
At press time, there are 18.6 million ETH deposited on the Beacon Chain by Ethereum validators. In May 2023 alone, 3.1 million ETH were depositedindicates Beaconcha.in.
Another trend that was reported in this newspaper after Shapella was the growth in volume of ETH in liquid staking pools, such as Lido or Rocket Pool. These platforms “stolen” market share from their centralized counterparts, such as Coinbase and Binance. Thus, Lido, the platform that recently enabled withdrawals, dominates 30% of the staking market on Ethereum.
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