Ethereum whales have been withdrawing ETH from trading platforms and staking them to earn yields. The recent Shapella upgrade allowed users to have control over their funds, increasing confidence in staking. The total value of ETH’s staked supply has exceeded $50 billion, with a significant increase since the execution of Shapella. As more people stake their ETH, the liquid supply on exchanges has dwindled. Ethereum’s price has surged past $1,700, but the exact cause of the breakout is unknown. The content advises readers to do their own research before making any investment decisions.
AI Sentiment: Positive