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Staked Ethereum Deposits Soar: 62K More Than Withdrawals in 24 Hours

• Ethereum deposits surpass withdrawals in the last 24 hours
• Bitcoin back over $30,000 with minimal liquidations and whales entering deep accumulation
• Banks facing pressure as yield curve passes 5% while Bitcoin loses 30k support

Staked Ethereum Deposits Exceed ETH Withdrawals

The Ethereum network has seen an influx of staked deposits over the past 24 hours, significantly outnumbering withdrawals. A net of 62,803 deposits were observed, with 917,411 ETH and 28,431 validators still awaiting full exit.

Bitcoin Back Over $30K

The price of Bitcoin has risen to over $30,000 again after a spot-driven rally with minimal liquidations. This is coupled with Bitcoin whales entering deep accumulation for the first time since January 2021.

Pressure On Banks

Banks have been put under further pressure as the front end of the yield curve surges past 5%. This is combined with Bitcoin losing its 30k support due to unwinding futures open interest contracts.

Impact On Future Trajectory

It remains unclear why so many validators are not withdrawing their funds yet and what this trend may spell for Ethereum’s future trajectory. To uncover more insights into this phenomenon, CryptoSlate Alpha members can access exclusive content on Connect Protocol.

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