Though Ethereum isn’t technically a PoS-based blockchain network, it will be very soon. And ahead of the project’s most ambitious upgrade, Ethereum staking using Lido has seen a rise in deposits.
Alongside LDO’s price this week, data collected from Dune Analytics indicates that there has been a similar surge in the amount of Ethereum deposited on the Beacon Chain since last week.
The Beacon Chain is the PoS version of Ethereum that’s been running in parallel with the proof-of-work (PoW) version since December 2020. The merge event, slated for any time between September 10 to September 15, will see the PoW version merge with the Beacon Chain.