Institutional capital will “start flowing in” to ETH staking post-Shapella - ConsenSys' Michiel Milanovic

Institutional capital will “start flowing in” to ETH staking post-Shapella - ConsenSys' Michiel Milanovic Cryptocurrencies

- Ethereum made a lot of headlines leading up to the Shanghai hard fork and the Capella upgrade on April 12, with the ETH token rallying above $2100 by the 16th before retreating to where it was at the beginning of April.

Milanovic told Kitco News reporter Ernest Hoffman that the Ethereum community was focused on three key areas in the run-up to Shapella. “The first one is, can the Ethereum foundation execute well on the next major upgrade on the roadmap? That was a success from what we saw in Shapella, so I think that was a positive reaction from the community,” he said.

Milanovic said that one way of figuring out how much of the activity is people staking for the first time and how much is existing validators who unstaked in order to test and are now coming back in is to see what validators who have been on-chain for the past few years are doing. “There's likely capital still on the sidelines that is waiting to be deployed,” he said. “But that being said, if we look at some of the top institutional staking providers, for example if we look at Stake.US or Kiln, we've already seen over 100,000 ETH being staked in the past two weeks alone, which is more than what they did in all of March.”

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