• Ethereum network’s Shapella upgrade has enabled ETH validators to withdraw their staked Ether on the Beacon Chain.
• Major crypto exchanges have announced support for ETH unstaking with several exchanges already processing withdrawal requests.
• The majority of withdrawals currently vary between 2.8 to 3.2 ETH, indicating that validators are only withdrawing their staking rewards.
Ethereum Network Upgrades for Unstaking
The Shapella Upgrade was successfully completed on April 12, on the Ethereum mainnet, allowing validators to withdraw their staked Ether from the Beacon Chain. At the time of writing, a total of 126,955.07 ETH were withdrawn by validators and about 44% out of 559,549 active validators have the ability to request a partial or full withdrawal.
Crypto Exchanges Supporting Unstaking
Major crypto exchanges such as Coinbase, BitGo and Kraken have announced support for Ethereum unstaking with several exchanges already processing withdrawal requests. Coinbase became the first publicly listed exchange to announce that ETH unstaking is live on their platform while BitGo chief operating officer Chen Fang took to Twitter to confirm they had upgraded successfully and ETH withdrawals were now live on the platform too. Kraken also started withdrawing validators before Shapella went live in order to comply with U.S Securities and Exchange Commission action brought against Kraken’s Ethereum staking product back in February.
ETH Withdrawal Amounts
The average price of staked ETH is $3,149 which could be another reason why many people are not withdrawing the whole 32 staked ETH amount but rather just taking out their earned rewards instead – mostly varying between 2.8-3.2 eth per request as seen in data from beaconcha.in . This indicates that most validators are only withdrawing their earnings from staking rather than all 32 eth at once due to current low prices making it not worth it financially right now – even though they can do it if they so choose!
Unexpected SEC Action Against Kraken’s Staking Product
Kraken’s early withdrawal action was due to U.S Securities and Exchange Commission action taken against them back in February over their Ethereum staking product which caused them having to start processing withdrawals before Shapella went live in order comply with regulations set by this body – making sure customers funds were safe during this period while these changes were being made across platforms worldwide!
In conclusion, thanks to the successful completion of Etherium’s Shapella upgrade – we now see a lot more options available for those looking into investing into cryptocurrencies or simply wanting access control over their funds stored online through major crypto exchanges like Coinbase, BitGo or even Kraken (for US customers). We’ve also learned how most people are opting out for partial withdrawals rather than taking out all 32 eth at once due its current low price value compared when invested earlier at higher rates; giving us an insight into what factors may affect decisions around investments like these!