One million ether has been withdrawn since Ethereum's Shanghai hard fork

Quick Take

  • More than one million ether coins have been withdrawn since Ethereum’s Shapella upgrade went live.
  • The price of ether has increased over the same time frame — currently around $2,100.

The amount of ether withdrawn since Ethereum's Shanghai hard fork has surpassed one million coins.

The Shanghai hard fork — part of an upgrade package called Shapella — went live just before 6:30 p.m. EDT on April 12 at block height 6209536. It allowed Ethereum stakers to withdraw their ether rewards for the first time since Beacon-chain deposits began in late 2020.

The total amount of withdrawn ether currently stands at 1.02 million coins, according to data from token.unlocks. Deposited ether since the Shanghai hard fork, meanwhile, stands at 373,040 — creating a net staking balance of -646,210.

token.unlocks chart showing hourly ether withdrawals.

The amount of ether withdrawn on an hourly basis has trended downward. Source: token.unlocks

The current staking picture on Ethereum

Just under 15% of the total ether supply remains deposited (excluding staking rewards). This accounts for 17.30 million ether, worth roughly $36.1 billion.

The total amount of ether pending withdrawal (including rewards) fell below $2 billion after topping $3 billion yesterday. Some 877,880 ether is currently queued for withdrawal — amounting to $1.84 billion.

An estimated $62.65 million will be withdrawn over the next 11 hours, creating a daily withdrawal average of $125.23 million per day.

The price of ether remains around $2,100 per coin while staking APR — the interest rate for running an Ethereum validator — sits at just under 5%.

Chart showing various Ethereum statistics from token unlocks.

The price of ether has increased while staking APR decreased. Source: token.unlocks

Updated with an additional chart.

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