The share of Ethereum from the total supply on the accounts of centralized platforms dropped to the lowest since July 2016 14.85%. Such data is provided by Glassnode.
During the bull market of 2021, the figure reached 25-26%.
The trend is observed against the backdrop of increasing interest in staking.
Since April 13, after the activation of the Shapella hard fork, the net inflow of ETH to the deposit contract has amounted to over 3 million coins. According to Dune Analytics, the proportion of staked Ethereum has increased to 17.77%.
“The trend will continue given that deflationary forces are expected to push the price of Ethereum significantly higher. Before this update [Shapella] investors have refrained from staking due to fears that their funds will be locked up for an unacceptably long time,” — Bitfinex analysts said in an interview with CoinDesk.
Recall that on May 15, Lido opened the withdrawal of Ethereum from staking, deploying the second version of the protocol.
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