• Staked supply was 23.6% of ETH’s total circulating supply.
• ETH’s exchange balance was barely 12% of the total coins in circulation.

Users have shown significant interest in Ethereum [ETH] staking since the Shapella Upgrade went live earlier this year.

As of this writing, 28.6 million yield-generating coins were locked up on the network, accounting for 23.6% of ETH’s total circulating supply, as per a Nansen dashboard.

Staked supply sees a sharp increase

Users moved towards the yield-bearing mechanism after gaining more control over their staked ETH, including the ability to unstake them at any time.

The increased share of staked ETH in comparison to total ETH trading volume demonstrated the extent of investors’ confidence.

Data shared by IntoTheBlock CEO Jesus Rodriguez revealed that the deposited amount was 1.4% of the trading volume as of 21 November.

Source: IntoTheB

Go to Source to See Full Article
Author: Aniket Verma

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