Over 650,000 units of staked Ethereum, valued at approximately $1.6 billion, were redeemed last week—the largest amount of redemption since the Shanghai Upgrade was completed last year.
A Dune Analytics dashboard shared by Tom Wan, an analyst at 21 Shares, showed that the bankrupt crypto lender Celsius and staking service provider Figment were the primary contributors to this substantial redemption surge. Together, they orchestrated withdrawals totaling 563,300 staked ETH, constituting an impressive 85% of the total redemptions during the reporting period.
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