Kraken Responsible for ETH Withdrawals as Staking Enters 3rd Round

Kraken was responsible for a large portion of Ethereum staking withdrawals as it enters its third "round." However, deposits have almost matched withdrawals, resulting in zero change in the balance of staked ETH. Nansen reports that there is a total of 632,651 ETH waiting in the pending withdrawal queue, valued at around $1.16 billion. Before the last wave of withdrawals, Nansen reported an all-time high in the total amount of staked ETH, hitting 18,796,663 ETH valued at around $34.5 billion. Concerns over a massive exodus of staked Ethereum following the Shapella upgrade have been quashed as there is still an appetite for staking Ether.