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Ethereum Sees Second Largest Weekly Deposit Record After Shanghai’s Upgrade

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According to reports, according to 21Shares analyst Tom Wan, the weekly deposit volume of Ethereum reached 539900 ETHs in the week after Shanghai\’s upgrade, setting the second larg

Ethereum Sees Second Largest Weekly Deposit Record After Shanghais Upgrade

According to reports, according to 21Shares analyst Tom Wan, the weekly deposit volume of Ethereum reached 539900 ETHs in the week after Shanghai’s upgrade, setting the second largest weekly deposit record to date. The largest weekly deposit record for inflows occurred on November 23, 2020, when 5565800 ETHs were deposited. Among the top CEX providing Ethereum pledge services, the number of ETHs pledged by Coin is the highest, reaching 107000. Other CEX data include: Huobi: 45200 ETHs, Kraken: 23000 ETHs, and Coinbase: 11900 ETHs.

Data: After the upgrade in Shanghai, the weekly deposit volume of Ethereum reached nearly 540000 ETHs, setting the second highest record in history

Introduction:

Ethereum has been facing a lot of exciting developments recently, one of which being the upgrade in Shanghai. Reports state that as a result of this upgrade, the weekly deposit volume of Ethereum reached 539900 ETHs during the week, setting the second largest weekly deposit record to date. In this article, we will dive deeper into this news and explore the significance of this milestone.

Understanding the Shanghai Upgrade:

Before delving into the details of the Ethereum deposit records, it’s important to understand the significance of the Shanghai upgrade. This upgrade, also known as the Shanghai hard fork or Ethereum 2.0, is a major update to the Ethereum network that aims to improve its scalability, security, and sustainability. It introduces several key changes, including a shift to a proof-of-stake consensus mechanism, the introduction of shard chains, and more. The upgrade has been in the works for a while and has been highly anticipated by the Ethereum community.

Record-breaking Ethereum Deposits:

Following the successful implementation of the Shanghai upgrade, Ethereum saw a surge in deposits to various centralized exchanges (CEXs). According to 21Shares analyst Tom Wan, the weekly deposit volume of Ethereum reached 539900 ETHs in the week after the upgrade, setting the second largest weekly deposit record to date. The largest weekly deposit record for inflows occurred on November 23, 2020, when 5565800 ETHs were deposited.
This influx of deposits is a clear indication of the growing interest and demand for Ethereum, especially following the recent upgrades to the network. Furthermore, it also highlights the importance of CEXs as a reliable and secure way for users to trade and hold Ethereum.

ETH Pledge Services: Coin Takes the Lead

Among the top CEXs providing Ethereum pledge services, Coin leads the pack with the highest number of ETHs pledged, which stands at 107000. Other CEX data include: Huobi with 45200 ETHs, Kraken with 23000 ETHs, and Coinbase with 11900 ETHs. These figures reflect the growing popularity of Ethereum and its use cases, which are steadily being recognized by CEXs worldwide.

Conclusion:

The record-breaking deposit volume and popularity of Ethereum following the upgrade in Shanghai are a clear indication of the network’s potential and growing demand. With more upgrades and developments in the near future, Ethereum is set to become even more widely adopted and sought after.

FAQs:

1. What is the Shanghai upgrade in Ethereum?
The Shanghai upgrade, also known as the Ethereum 2.0 upgrade or the Shanghai hard fork, is a major update to the Ethereum blockchain network that aims to improve scalability, sustainability, and security.
2. What is the significance of the record-breaking Ethereum deposits?
The record-breaking deposits are indicators of the growing demand for Ethereum, especially following the recent upgrades and developments.
3. Which CEX leads in ETH pledge services?
Coin leads the pack with the highest number of ETHs pledged, which stands at 107000.

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