Do Ethereum users prefer staking over trading? Examining...
Staked ETH accounted for 20% of total circulating supply.staking since the Shapella Upgrade went live on the mainnet in April.Staking, which was originally thought to be a risky proposition owing to withdrawal ambiguity, got a boost after unlocking ETH was permitted. After a successful test of the withdrawal mechanism initially, users came back to restake their ETH.
. The firm took to Twitter to reveal that staked ETH supply exceeded ETH’s liquid supply on exchanges in June, with a forecast that this trend would likely continue in the near future.There has been a sharp rise in the number of ETH staked with deposits consistently outpacing withdrawals over the last three months.
The trend indicated that more and more people were taking ETH out of the market and using it as an investment to earn yields. And even though staking rewards have progressively reduced over the past two years, the clamor for staking has increased.Another possible reason behind the persistence with staking could be that several stakers were underwater on their investments.
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