Counting the Ether Profit Regulation Era: 5.45% Average Annualization, 387,200 ETH Pledge Growth After Upgrade

It has been half a month since EtherMoney successfully completed the Shanghai upgrade on April 12, opening up pledge withdrawals. Before the upgrade, market concerns centered on whether the opening of withdrawals would cause a larger-scale sell-off, leading to a drop in the coin price. But after the upgrade, this situation did not occur. Although the total amount of pledged withdrawals has exceeded 1.7 million ETH as of April 26, the price of ETH has remained in an uptrend recently, exceeding $2,100 on multiple days and hitting its highest point since June 2022. Meanwhile, total lockups on DeFi on Ether have also remained largely stable, with the LSD and LSDFi protocols continuing to be active.

Such a state of affairs has created another concern in the market that Ether's high pledge rates could squeeze other on-chain activity to the detriment of long-term growth. So how to understand the impact of Ether pledge rates?PANews data column PAData analyzed the current state of pledges and withdrawals on Ether as of April 26 after the upgrade, as well as the current pledge rates offered by various pledge institutions/protocols and the main application markets for pledge vouchers and found that