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Yuri Molchan

Recent analytics data shows that number of large ETH transfers sharply increased this week after major recent Ethereum upgrade

IntoTheBlock on-chain data company has tweeted that, this week, it has noticed a steady increase in the volume of massive ETH transfers.

On April 9, the largest Ethereum transfer was 708,000 ETH, while yesterday, on April 13, the biggest transaction already carried 2.2 million ETH.

This uprise in transactions was noticed after the recently implemented Shapella upgrade on Ethereum, which included the Shanghai upgrade. The latter now allows stakers to withdraw their ETH from the Beacon Chain deposit contract.

According to data shared by Chinese crypto reporter Colin Wu, after the upgrade that was rolled out earlier on April 13, almost 240,000 Ethereum was withdrawn from the staking contract. Around 100,000 ETH was deposited to it and, at the moment, 1.01 million ETH is on hold to be withdrawn.

Thanks to the implemented upgrade, the price of the second largest cryptocurrency, Ethereum, surged to the $2,000 level, currently trading in the $2,100 zone.

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