Description: In Cryptography We Trust
“ More than 200,000 ether have been deposited to the network since the start of the week , data from the on-chain analytics tool Nansen show, marking the first time deposits have outpaced withdrawals since Shapella went live last month. The additions bring the number of ether locked for staking purposes to over 19 million tokens – about 15% of the total circulating supply.
The influx comes as traders flock to meme coins such as pepecoin (PEPE), which has strained the Ethereum network and sent transaction fees to a 12-month high.
[ The deposit queue stands at 17 days, relative to the 5 day withdrawal queue , at the time of writing].”