Interest in staking ether (ETH) has increased since the implementation of the Shapella or Shanghai upgrade on April 12. According to Glassnode, over 4.4 million coins have been deposited into the staking contract since then, taking the tally to 22.58 million. Bitfinex analysts suggest that the surge in demand for staking is likely due to large ether holders seeking to generate passive income. Despite a waiting time of over one month, more than 50,000 perspective validators are in the queue, enticed by an annual yield of around 4-5 percent through token staking. The Shapella upgrade has de-risked staking, allowing users to unlock their coins at will, mitigating its perceived risk for many investors.
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