The dollar value of the staked $ETH peaked at $39.7 billion in November — and has now plunged by more than $25 billion, Glassnode says. 👀
Eye-watering amounts of Ether have been locked up ahead of the long-awaited switch from proof-of-work to proof-of-stake.But according to new figures from Glassnode, those who have staked Ether are massively in the red — and preparations for the much-delayed upgrade rumble on, there's no sign of when they'll be able to get this crypto back.
Of this, 8 million ETH was deposited before the world's second-largest cryptocurrency hit an all-time high back in November 2021. Here's an especially sobering figure: the dollar value of the staked ETH peaked at $39.7 billion in November, and has now plunged by more than $25 billion. "Throughout 2020 and 2021, it was common to see between 500 to 1,000 new deposits of 32 ETH per day. Currently, the weekly average number of deposits has dropped to just 122 per day, which is the lowest it has been to date."
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