Ethereum’s Shapella hard fork was a controversial upgrade that ignited fears of selling pressure. But the latest data tells a different story.

In January 2024, Intotheblock’s data revealed the highest Ethereum staking rate, reaching approximately 30 million ETH staked, accompanied by a staking participation rate of over 24. This milestone suggested a preference for staking over promptly selling off tokens.

  • Ethereum locked-in staking keeps surging, while only 11 of the token supply is currently stored on centralized exchanges.
  • Analyzing the latest figures, it’s evident that the much-talked-about Ethereum upgrade, Shapella – enabling stakers to withdraw their coins for the first time since December 2020 – did not lead to the widespread unstaking as initially predicted.
  • Even with the introduction of the new feature enabling stakers to retrieve their tokens, the current staked amount stands at 29.13 million ETH, accounting for 24.2 of the total supply.