Ethereum Sees Second Largest Weekly Deposit Record After Shanghai Upgrade

04/24/2023 04:54 • Daily Digest • 96 views

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

Outline

1. Introduction to Ethereum and its recent upgrade in Shanghai
2. Weekly deposit volume of Ethereum reaches 539900 ETHs
3. Largest weekly deposit record for inflows occurred on November 23, 2020
4. The highest number of ETHs pledged by Coin among top CEX
5. Other CEX data including Huobi, Kraken, and Coinbase
6. Explanation of Ether stake
7. Comparison of Ethereum and Bitcoin
8. Conclusion

Article

Ethereum is a blockchain-based platform that is home to many decentralized applications and smart contracts. On November 24, 2021, Ethereum underwent the Shanghai upgrade, which brought many improvements to the platform, including better efficiency, reduced gas fees, and increased transaction speeds.
Reports suggest that, after the upgrade in Shanghai, the weekly deposit volume of Ethereum reached 539900 ETHs. This marks the second largest weekly deposit record to date, with the largest weekly deposit record for inflows occurring on November 23, 2020, when 5565800 ETHs were deposited.
Among the top centralized exchanges (CEX) providing Ethereum pledge services, the number of ETHs pledged by Coin is the highest, reaching 107000. Other CEX data include Huobi, which pledged 45200 ETHs, Kraken, which pledged 23000 ETHs, and Coinbase, which pledged 11900 ETHs.
But what exactly is Ether stake? Ether stake can be defined as a mechanism that rewards validators for maintaining the security and performance of the Ethereum network. Validators must pledge a certain amount of Ether, which is held in a smart contract, and in return, they earn rewards in the form of Ether.
Compared to Bitcoin, Ethereum is a more versatile and flexible platform. While Bitcoin has a limited set of functions, Ethereum can support various decentralized applications and smart contract functions. Ethereum is also more energy-efficient than Bitcoin, which uses more electricity due to its mining process.
In conclusion, Ethereum marked a milestone in its history after seeing the second largest weekly deposit record following the upgrade in Shanghai. With more users and CEX providing Ethereum pledge services, it is evident that the platform’s popularity is on the rise. With Ether stake, validators contribute to the security and growth of the Ethereum network, making it a superior blockchain-based platform when compared to Bitcoin.

FAQs

Q1. What are the benefits of Ethereum?
A1. Ethereum is a versatile and flexible platform that supports various decentralized applications and smart contract functions. It is also energy-efficient and more secure than many other blockchain-based platforms.
Q2. What is Ether stake?
A2. Ether stake is a mechanism that rewards validators for maintaining the security and performance of the Ethereum network. Validators must pledge a certain amount of Ether, which is held in a smart contract, and in return, they earn rewards in the form of Ether.
Q3. What is the difference between Ethereum and Bitcoin?
A3. Ethereum is more versatile, flexible, and energy-efficient than Bitcoin. Ethereum can support various decentralized applications and smart contract functions, while Bitcoin has a limited set of functions.

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