Ethereum price marks 11-month high as ETH staking exceeds withdrawals

Ethereum price lived up to expectations as the second-biggest cryptocurrency in the world breached a key psychological barrier on April 13. But more t

Highlights

• 70% of the ETH being withdrawn is from the Kraken exchange, whose staking service was recently shut down by the SEC.
• Large wallet holders dumped 400,000 ETH in the span of 48 hours following the Shanghai upgrade.
• ETH price has shot up beyond $2,000 in the 24 hours since the upgrade, marking an 11-month high.
• On-chain, investors did not fail to fail to surprise either, as whales displayed mixed sentiments when it comes to holding ETH.
• The slow pace of withdrawals is resulting in deposits running higher as the bullishness for ETH at the moment will draw investors toward it.
• But on-chain data highlighted that at one point during the day,

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