1 Million ETH Waiting To Be Withdrawn Post  Shanghai Upgrade

Shanghai upgrade: 1.01 million ETHs waiting to be withdrawn

The upgrade on the Ethereum blockchain, Shapella, was triggered on April 12, 2023, at 22:27 UTC and finalized at about 22:42 UTC.

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The upgrade enables withdrawals for users who have “staked” their ether (ETH) to secure and validate transactions on the blockchain.

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After thirty hours of the Shanghai upgrade, nearly 240,000 ETHs have been withdrawn and that’s not it.

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Another 1.01 million ETHs are waiting to be withdrawn, out of which Kraken accounts for 63% and Coinbase accounts for 11%.

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Along with that, Huobi accounts for 5.1%, and Lido accounts for 31% of the stake. None of these exchanges have opened withdrawals yet.

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Apart from the withdrawals, nearly 100,000 ETHs have been deposited since the upgrade.

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Amid all the hype around the Shanghai upgrade, ETH price crossed above $2100 today.

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