Binance has opened the withdrawal of ETH from staking
The largest bitcoin exchange Binance has activated the function of withdrawing funds from Ethereum staking.
#Binance has enabled the withdrawal function for ETH 2.0 staking.
For more details on how to redeem $ETH with your $BETH holdings, read our previous announcement below.
— Binance (@binance) April 19, 2023
Users can seamlessly convert the BETH synthetic asset to ether in a 1:1 ratio. The platform also opened the possibility of commission-free trading in BETH/ETH and BETH/USDT pairs. The promotion is valid until May 10th.
According to Nansen, Binance's customer staking volume is 5.5% of the total, the fourth highest among identified sources.
According to the service, users of the centralized exchange also put 192,074 ETH on the waiting list for withdrawal — 20% of the total volume.
The latter, including rewards, is 18.78 million ETH, which represents 14.5% of the cryptocurrency supply.
The average price of coins in staking is $2137.
On April 19, Ethereum failed the $2,000 level. Bitcoin fell below $28,000.
Recall that on April 18, the daily inflow of funds into ETH staking for the first time since the activation of the Shapella hard fork exceeded the withdrawal volume.