Staked Ethereum is Skyrocketing = BULLISH 🚀
Ethereum's Shanghai upgrade it's coming and investors are positioning for its third largest staked ETH inflow.
Last week Ethereum saw its third largest staked ETH inflows in history, suggesting that investors Investors are positioning themselves for Ethereum’s imminent Shanghai upgrade in March. Lido Finance, a liquid staking protocol, has employed a safety measure to control the staking rate after recording over 150,000 ETH staked in one day.
PBN Research
Macro Events / US Equity Markets Weakening
"The crypto market remained range bound, with bitcoin correcting early in the week and then recovering over the weekend, to end marginally lower by 3% to $23,600,"
20% of American Adults Own Crypto
A recent survey commissioned by Coinbase and conducted by Morning Consult shows that 20% of Americans own cryptocurrencies. This means that more than 50 million Americans own digital assets. The latest report highlights how the ownership of these assets hasn’t changed since early 2022, irrespective of the bear market.
ETH Shanghai Coming Soon
Since most of the locked ETH was staked as early as 2020, there are concerns that billions worth of the cryptocurrency will make their way into the market. However, LDO has experienced a surge in demand for liquid staking in the last six months. Hence, there is strong demand for staking services.
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