Ether pledge volume surges by 4.4 million since Shapella upgrade

More than 4.4 million ETH have been deposited into Ether contracts since the implementation of Ether's Shapella upgrade on April 12, bringing the total number to 22.58 million. Bitfinex analysts said in a weekly report that the surge in demand for pledges may stem from large ETH holders, who are reluctant to liquidate their holdings and instead seek to generate passive income. This trend is expected to continue, especially given that deflationary forces are expected to drive the price of ETH significantly.