Record weekly inflow of deposits into Ethereum staking

Record weekly inflow into Ethereum staking after Shapella activation.

Experts from analytics platform Dune recorded a record weekly inflow of assets into the Ethereum deposit smart contract after the activation of Shapella.

Last week had the largest weekly $ETH Staked with 571K. Flow is mainly driven by Institutional Staking Providers:

Last 7D ETH Deposit@stakefish: 73.9k @staked_us: 46K @Kiln_finance: 17K @Figment_io: 6.6K@BitcoinSuisseAG: 4.9K

Data: @DuneAnalytics https://t.co/ulhZnfflUJ https://t.co/932yulhuLw pic.twitter.com/x2xiZlgczD

— Tom Wan (@tomwanhh) April 24, 2023

According to analysts, from April 17 to 23 users deposited into стейкинг ~571 950 ETH for more than $1 billion. According to on-chain data, this is a record high since the launch of the deposit contract.

One of the authors of the study, Tom Wan, noted that the inflow of funds was driven by institutional demand. Projects Bitcoin Suisse, Figment, Kiln, Staked.US and Stakefish collectively locked 148 400 ETH (~$270 million) over the past week. Over the month their total deposits amounted to 235 330 ETH — $450 million.

According to TokenUnlocks data, at the time of writing users had withdrawn 1.66 million ETH from staking. At the same time, the volume of locked assets exceeded 17.4 million ETH ($32.1 billion).

Between 17 and 18 April, the amount deposited into Ethereum staking (94 968 ETH) for the first time since the activation of Shapella превысила withdrawals (27 076 ETH).