Under 1% Of Ethereum Has Been Estimated To Be Sold


The last week in the world of DeFi was filled with anticipation leading up to the Shapella upgrade on the mainnet of Ethereum.

This hard fork was completed successfully on the 12th of April, which allowed validators to withdraw the Ethereum that had been staked after three years. However, only 253 validators would have signed up to fully exit the staked position in Ether, with Glassnode- the analytics firm- predicting that under 1% of the staked ETH had been withdrawn. Amid all the celebration that had taken place after the post-Shapella upgrade, a researcher of Ethereum went on to reveal that staking Ether could end up as a privacy concern- as he had previously discovered that staking the cryptocurrency highlighted the address information of a user’s IP.

Staked Ethereum Has Gone Through A Massive Downfall

It was also reported that a hacker had minted 1 quadrillion Yearn Tether after they exploited an old contract- after which they swapped the yUSDT to other forms of stablecoins- allowing one to hold around $11.6 million worth of stablecoins.

The financial inclusion based on DeFi would also serve to increase the liquidity and earning opportunities for the micro-entrepreneurs in Africa, through the partnership that existed between Fonbnk and Tanda. The top 100 tokens of DeFi went through another bullish week- due to the late surge in the crypto market after the much-awaited upgrade of Ethereum. Most of the tokens were also traded in green along with the rest of the market space. 

Glassnode has gone on to predict that just 170,000 Ether of the 18.1 million ETH staked on the Beacon Chain would end up being unlocked within the very first week of the hard form in Shanghai being executed on Ethereum. The figure would comprise 100,000 Ether worth of rewards for staking.