ETH staked exceeded withdrawals

Published on:

ETH staked exceeded withdrawals; Donald Trump releases second series of NFT collection; Intel will stop producing chips for Bitcoin miners

Ethereum successfully rolled out the Shapella update on April 12. This update allowed validators to withdraw their stakes from the Beacon network three years later. First deposit after Shapella update, following withdrawal of over one million ETH in first week

The amount of ETH has outstripped the amount of withdrawn ETH.

According to data from on-chain analytics firm Nansen, more ETH is currently being deposited than withdrawal requests. As of April 17, with 124,000 ETH deposited, the staking volume exceeded the withdrawal volume of 64,800 ETH for the first time.

The amount of ETH was 27,076. The effect seen in the first round is said to be due to partial withdrawals of Lido and legacy validators. Due to the staking withdrawal queue, transactions can take up to three days.

As of now, 22,231 out of 574,624 validators have applied to exit outright, with a total of 18.6 million ETH expected to withdraw 910,930 ETH.

The average price of deposited ETH is around $2,137, which is another important reason for the decrease in stake withdrawals.

Donald Trump releases second series of NFT collection

Former US President Donald Trump has released the second series of the NFT collection.

According to Bloomberg’s report, Donald Trump’s social media platform Truth Scoial has announced the release of a new NFT collection. The initial sale price of NFTs is in the $99 band.

The new collection includes many remarkable depictions. In one of the NFTs, Trump plays George Washington, inspired by Emanuel Leutze’s painting “Washington Crossing the Delaware.”

Read more:  SEC fines Kim Kardashian

Great interest in Trump NFTs

Trump NFTs offer purchasers several benefits, including a ticket to a gala dinner with Trump at the Florida resort of Mar-a-Lago.

The digital cards have no ties to Trump’s companies. According to the statement, Trump only gets a share of the collection for naming rights.

CIC Digital LLC, which sold the first NFT series, earned between $500,000 and $1 million from the sale of these collections, according to a financial report submitted by Trump.

Sales of Trump’s first NFT collection have increased by 200% in the past 24 hours, according to data from Crypto Slam.

Overall sales of NFT collectibles such as Bored Ape and CryptoPunks have declined, according to data from DappRadar. Last month, NFT marketplace Blur’s trading volume dropped 45%, while OpenSea saw a 66% drop in transactions.

Intel will stop producing chips for Bitcoin miners

US-based technology company Intel has reportedly ended production of Blockscale Bitcoin mining chips as part of an effort to cut costs.

Intel will stop taking orders for Blockscale 1000 Series ASICs until October 20 and will end shipping around April 2024. In this way, the company hopes to reduce costs. The chips were launched last year.

Intel released its Blockscale mining chips in April 2022 and stated that this hardware will have a hash rate of up to 580 gigahash per second. Argo Blockchain, Block, Hive Blockchain Technologies and GRIID Infrastructure were among the first companies to integrate technology into their operations.

Intel CEO Pat Gelsinger cut wages by 25% in February, and the company predicts $10 billion in cost reductions by 2026 due to cost reduction initiatives and various gains. Intel will continue to monitor market opportunities after it stops mining chips.

Read more:  EXCHANGES’ BITCOIN RESERVES MELT AWAY

Related