{"id":318005,"date":"2023-04-17T11:30:30","date_gmt":"2023-04-17T10:30:30","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=318005"},"modified":"2023-04-17T14:32:15","modified_gmt":"2023-04-17T13:32:15","slug":"staked-ethereum-declines-3-8-as-withdrawals-cross-1m","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/staked-ethereum-declines-3-8-as-withdrawals-cross-1m\/","title":{"rendered":"Staked Ethereum declines 3.8% as withdrawals cross 1M ETH"},"content":{"rendered":"<p>Four days after the Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) Shapella upgrade, more than 1 million ETH has been withdrawn, according to <span class=\"s4\">beaconcha.in<\/span>\u00a0data.<\/p>\n<p>According to the <a href=\"https:\/\/beaconcha.in\/validators\/withdrawals\">data<\/a>, 1.04 million ETH has been withdrawn from the 491,037 processed withdrawals. The highest withdrawal was processed on April 15 when validators removed 392,8012 ETH from the Beacon Chain.<\/p>\n<figure id=\"attachment_318051\" aria-describedby=\"caption-attachment-318051\" style=\"width: 1681px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-318051 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639.jpg\" alt=\"Withdrawn ETH\" width=\"1681\" height=\"379\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639.jpg 1681w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639-300x68.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639-1024x231.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639-768x173.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-104639-1536x346.jpg 1536w\" sizes=\"(max-width: 1681px) 100vw, 1681px\" \/><figcaption id=\"caption-attachment-318051\" class=\"wp-caption-text\">Source: Beacon Cha.in<\/figcaption><\/figure>\n<p>On other days, over 150,000 ETH were withdrawn, respectively.<\/p>\n<p>Meanwhile, more ETH will be <a href=\"https:\/\/cryptoslate.com\/1b-staked-eth-withdrawn-in-24hrs-as-round-2-begins\/\">withdrawn<\/a> over the coming days. According to <a href=\"https:\/\/token.unlocks.app\/ethereum-shanghai\"><span class=\"s4\">Token Unlocks,<\/span><\/a> 866,850 ETH valued at $1.81 billion are awaiting withdrawal from 471,370 validators.<\/p>\n<h2>Lido tops withdrawals<\/h2>\n<p>According to Nansen's <a href=\"https:\/\/query.nansen.ai\/public\/dashboards\/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ?utm_campaign=shanghaiupgrade_12apr23&utm_medium=social&utm_source=twitter\">dashboard<\/a>, Lido DAO is responsible for most withdrawals. The liquid staking platform accounts for 25% of all withdrawals processed.<\/p>\n<figure id=\"attachment_318048\" aria-describedby=\"caption-attachment-318048\" style=\"width: 816px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-318048\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-6.png\" alt=\"Staked Ethereum Withdrawals\" width=\"816\" height=\"330\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-6.png 816w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-6-300x121.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-6-768x311.png 768w\" sizes=\"(max-width: 816px) 100vw, 816px\" \/><figcaption id=\"caption-attachment-318048\" class=\"wp-caption-text\">Source: Nansen<\/figcaption><\/figure>\n<p>It is followed by Binance \u2014 which has withdrawn 84,145 staked ETH, equating to 8.11% of withdrawn ETH. Other centralized entities like bankrupt lender Celsius, Figment, and Satofishi are also among the top addresses that have withdrawn their staked tokens.<\/p>\n<h2>Centralized exchanges dominate pending withdrawals<\/h2>\n<p>Meanwhile, centralized exchanges \u2014 Kraken, Coinbase, Binance, and Gemini \u2014 dominate the platforms awaiting withdrawals of their staked ETH.<\/p>\n<figure id=\"attachment_318053\" aria-describedby=\"caption-attachment-318053\" style=\"width: 816px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-318053\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-7.png\" alt=\"Pending Withdrawal\" width=\"816\" height=\"280\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-7.png 816w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-7-300x103.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/newplot-7-768x264.png 768w\" sizes=\"(max-width: 816px) 100vw, 816px\" \/><figcaption id=\"caption-attachment-318053\" class=\"wp-caption-text\">Source: Nansen<\/figcaption><\/figure>\n<p><em>CryptoSlate<\/em> previously <a href=\"https:\/\/cryptoslate.com\/secs-regulatory-actions-push-us-based-exchanges-to-withdraw-staked-ethereum\/\">reported<\/a> that these platforms account for 78% of the entities waiting to withdraw their staked Ethereum. As of press time, these platforms want to withdraw 736,500 ETH.<\/p>\n<p>Recent regulatory troubles in the United States are forcing these platforms to withdraw their assets to remain in compliance with the Securities and Exchange Commission (SEC).<\/p>\n<h2>Over 380,000 ETH have been deposited since Shapella upgrade<\/h2>\n<p>Since the Shanghai hard fork, staked ETH balance has declined by 3.8% to 17.3 million ETH despite investors depositing 380,420 ETH, according to Token Unlocks.<\/p>\n<figure id=\"attachment_318057\" aria-describedby=\"caption-attachment-318057\" style=\"width: 489px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-318057\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-110759.jpg\" alt=\"Staked ETH\" width=\"489\" height=\"262\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-110759.jpg 489w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-17-110759-300x161.jpg 300w\" sizes=\"(max-width: 489px) 100vw, 489px\" \/><figcaption id=\"caption-attachment-318057\" class=\"wp-caption-text\">Source: Token Unlocks<\/figcaption><\/figure>\n<p>This means there has been a net decline of 657,570 ETH ($1.36 billion) in staked ETH as of press time.<\/p>\n<p>Meanwhile, Lookonchain reported that some <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1647833608344973312?s=20\"><span class=\"s4\">addresses<\/span><\/a> withdrawing their staked ETH immediately re-staked them. According to the on-chain sleuth, three wallets out of the top 15 withdrawal addresses re-staked 19,844 ETH.<\/p>\n<p>Lookonchain further pointed out that some addresses withdrawing their assets were also selling them. The investigator highlighted three wallets that sent <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">71,444 <\/span><span class=\"r-18u37iz\">ETH to unnamed centralized exchanges.<\/span><\/p>\n<p>ETH has been one of the best-performing digital assets since the Shapella upgrade. The cryptocurrency increased by more than 12% over the past week and pulled the broader market into a green run.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four days after the Ethereum (ETH) Shapella upgrade, more than 1 million ETH has been withdrawn, according to beaconcha.in\u00a0data. According to the data, 1.04 million ETH has been withdrawn from the 491,037 processed withdrawals. The highest withdrawal was processed on April 15 when validators removed 392,8012 ETH from the Beacon Chain. On other days, over [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":318063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,77923],"tags":[72190],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Staked Ethereum declines 3.8% as withdrawals cross 1M ETH<\/title>\n<meta name=\"description\" content=\"Lido DAO is responsible for most staked Ethereum withdrawals \u2014 roughly 25% \u2014 according to Nansen&#039;s dashboard.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/staked-ethereum-declines-3-8-as-withdrawals-cross-1m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Staked Ethereum declines 3.8% as withdrawals cross 1M ETH\" \/>\n<meta property=\"og:description\" content=\"Lido DAO is responsible for most staked Ethereum withdrawals \u2014 roughly 25% \u2014 according to Nansen&#039;s dashboard.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/staked-ethereum-declines-3-8-as-withdrawals-cross-1m\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-17T10:30:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-17T13:32:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/staked-ethereum.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/staked-ethereum-declines-3-8-as-withdrawals-cross-1m\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/staked-ethereum-declines-3-8-as-withdrawals-cross-1m\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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