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Ethereum’s Weekly Deposit Volume Soars to Second-Highest Record After Shanghai’s Upgrade

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According to reports, according to 21Shares analyst Tom Wan, the weekly deposit volume of Ethereum reached 539900 ETHs in the week after Shanghai\’s upgrade, setting the second larg

Ethereums Weekly Deposit Volume Soars to Second-Highest Record After Shanghais Upgrade

According to reports, according to 21Shares analyst Tom Wan, the weekly deposit volume of Ethereum reached 539900 ETHs in the week after Shanghai’s upgrade, setting the second largest weekly deposit record to date. The largest weekly deposit record for inflows occurred on November 23, 2020, when 5565800 ETHs were deposited. Among the top CEX providing Ethereum pledge services, the number of ETHs pledged by Coin is the highest, reaching 107000. Other CEX data include: Huobi: 45200 ETHs, Kraken: 23000 ETHs, and Coinbase: 11900 ETHs.

Data: After the upgrade in Shanghai, the weekly deposit volume of Ethereum reached nearly 540000 ETHs, setting the second highest record in history

If you’re invested in cryptocurrency, you probably already know that Ethereum is one of the most popular digital assets on the market. According to recent reports, Ethereum’s weekly deposit volume has reached an impressive 539900 ETHs after Shanghai’s upgrade, setting the second largest weekly deposit record to date. In this article, we’ll take a closer look at Ethereum’s weekly deposit volume, what this milestone means for the cryptocurrency market, and which top CEX providers are leading the way in Ethereum pledge services.

Understanding Ethereum’s Weekly Deposit Volume

Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications and smart contracts. Essentially, Ethereum is the infrastructure that enables other blockchain projects to operate. As such, Ethereum is a fundamental part of the blockchain ecosystem, and its value is viewed as an important barometer for the overall health of the cryptocurrency market.
One way to measure Ethereum’s popularity is by looking at its weekly deposit volume. According to Tom Wan, an analyst with 21Shares, Ethereum’s weekly deposit volume reached 539900 ETHs in the week after Shanghai’s upgrade, the second largest weekly deposit record to date. While this is an impressive statistic, it is important to note that the largest weekly deposit record for inflows occurred on November 23, 2020, when 5565800 ETHs were deposited.

The Significance of Ethereum’s Milestone

Ethereum’s recent milestone is an indication of the increasing popularity of cryptocurrency among investors. With the global economic crisis brought on by the COVID-19 pandemic, many investors are looking to alternative assets that can provide a hedge against inflation and other economic uncertainties. As a decentralized platform, Ethereum offers a level of autonomy and privacy that traditional financial systems cannot match.
At the same time, this milestone shows that Ethereum is holding its own against other cryptocurrencies like Bitcoin, which has been the dominant player in the market since its inception. While Bitcoin still has a higher market capitalization than Ethereum, Ethereum’s unique features and growing adoption are making it a worthy competitor.

The Top CEX Providers in Ethereum Pledge Services

As Ethereum continues to gain popularity, more and more cryptocurrency exchange (CEX) providers are exploring ways to offer Ethereum pledge services to their users. Among the top CEX providers, Coin leads the way with the highest number of ETHs pledged at 107000. Other CEX providers offering Ethereum pledge services include Huobi with 45200 ETHs, Kraken with 23000 ETHs, and Coinbase with 11900 ETHs.

Conclusion

Ethereum’s soaring weekly deposit volume demonstrates the growing interest of investors in cryptocurrency, particularly during a time of economic uncertainty. As more investors turn to alternative assets like Ethereum, it is likely that we will see continued growth and innovation in the cryptocurrency market.

FAQs

1. What is Ethereum?
– Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications and smart contracts.
2. How is Ethereum’s weekly deposit volume measured?
– Ethereum’s weekly deposit volume is measured by the number of Ethereum tokens (ETHs) deposited into the blockchain each week.
3. Which CEX provider has the highest number of ETHs pledged?
– Among the top CEX providers, Coin has the highest number of ETHs pledged at 107000.

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