Apr 25, 2023

District 9 Director’s Shooter, Decentraland Red-Light District Battle: Ethereum Staking Heats Up

The crypto-space is abuzz with activity as Ethereum staking withdrawals enter their third round. According to data from the analytics platform Nansen, the crypto exchange Kraken is responsible for a large portion of these withdrawals.

A “round” refers to the number of days taken to process partial withdrawals and rewards. Nansen says it currently takes just under four and a half days. The last large batch of withdrawals on April 24 was a total of 61,608 ETH in principal and reward withdrawals, while 63,009 ETH was deposited at the same time. This has resulted in zero change in the balance of staked ETH over the past 24 hours.

Kraken was forced to halt its Ethereum staking services in February following enforcement action and a fine by the United States Securities and Exchange Commission. As a result, much of the ETH withdrawn early on has been from Kraken wallets as assets get returned to stakers. According to Nansen, 2.3% of the total withdrawable ETH remains from Kraken.

Nansen currently reports there is a total of 632,651 ETH waiting in the pending withdrawal queue. At current prices, this is valued at around $1.16 billion.

The total amount of staked ETH hit an all-time high of 18,796,663 ETH valued at around $34.5 billion on April 24. This figure represents 14.5% of the total Ether supply. Due to the EIP-1559 burning mechanism, the total supply has declined by 114,077 ETH (around $209 million) since the Merge in September.

Concerns over a massive exodus of staked Ethereum following the Shapella upgrade have been quashed. Token Unlocks is reporting that a total of 1.66 million ETH has been withdrawn since April 12, but 1.07 million ETH has been deposited, signaling that there is still an appetite for staking Ether.

The Ethereum blockchain is a prime example of the potential of Web3 and the power of NFTs. With the rise of NFTs, more and more digital assets are being created and traded. This has opened up a whole new world of possibilities for digital marketing and promotion, including NFT marketing.

NFT marketing is the process of leveraging the power of NFTs to promote and advertise digital assets. This can be done through a variety of channels, including Twitter, YouTube, and other social media platforms. NFT promotion can also involve engaging influencers, creating content, and engaging with the NFT community.

NFT marketing agencies have emerged to help creators and businesses navigate the world of NFTs and maximize the potential of their digital assets. These agencies specialize in NFT promotion, helping creators and businesses to effectively market their NFTs. They can also provide valuable insights into the NFT space and help creators and businesses to understand the best ways to sell their NFTs.

The world of NFTs is still relatively new, but it is already having a huge impact on the web3 space. As more and more digital assets are created and traded, the potential for NFT marketing and promotion is only set to increase. With the help of NFT marketing agencies, creators and businesses can maximize the potential of their digital assets and effectively market and promote their NFTs.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.