Ethereum’s Shanghai Upgrade Leads to Biggest ETH Inflow in a Month

The crypto exchange saw a net inflow of 179,500 ether (ETH), worth about $375 million, in the four days following Ethereum’s Shanghai upgrade, according to data firm CryptoQuant.

informationof CryptoQuant shows that Traders deposited 1,101,079 ETH to the exchange between April 13 and April 16, while only 921,579 ETH of tokens were withdrawn, and this was the largest four-day net inflow in a month.

On April 12, Ethereum successfully completed its long-awaited Shanghai upgrade. This made it possible to withdraw staking ETH for the first time, with a total of approximately 18 million ETH worth $36 billion locked in staking contracts.

Some are worried that this event will fill the market with millions of unlocked ETH. and make the price of cryptocurrency The second largest collapse But that doesn’t seem to be the case. As the price of ETH jumped above $2,100 the next day, its highest level since May 2022.

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