Shapella gives impetus to the growth of the DeFi segment

The Shapella update on the Ethereum network triggered an increase in interest in staking, without confirming fears about a negative impact on the value of the altcoin. This was reported by ForkLog analysts.

According to the results of the previous month, the price of ETH increased by 2.7%. At the same time, there was no significant outflow of cryptocurrency from the deposit contract. Instead, an inflow of 9% (about 1.5 million coins) was recorded, which increased significantly after the hard fork.

The number of validators on the ETH network has increased by 10%, which indicates a growing confidence in staking the second most popular crypto coin. Since the update, the validators have withdrawn more than 1.9 million ETH.

Netizens were actively withdrawing funds in the first time after Shapella. Mostly these were partial withdrawals.

According to Ultrasound Money, the supply of Ethereum has decreased by almost 59,000 coins over the past month. Analysts note that the network remains deflationary.

The largest number of altcoins (about 25,100 ETH) was withdrawn from circulation amid operations that are associated with the Uniswap protocol. Then there are transfers between network users.

At the same time, analysts noted that after Shapella in the ETH network, the volume of funds blocked in smart contracts for DeFi applications turned out to be more than $90 billion — for the first time since September last year. Then this figure fell slightly, amounting to $83.37 billion. But Ethereum retains its leadership, it accounts for almost 67%.