- The developers of Ethereum Core have decided on the exact date and time for the Shapella upgrade.
- The Shapella upgrade will enable stacked ETH withdrawals.
- There is $29.45 billion worth of ETH in storage right now.
Ethereum (ETH) One step closer to launching one of the most important network upgrades in blockchain history.
On Thursday, the developers of the Ethereum core agreed when the Shanghai-Capella, or Shapella, upgrade would be launched. The Shapella upgrade will allow stacked ETH to be withdrawn by network validators.
The developers are targeting April 12 as the upgrade release date. The exact time for the upgrade is 10:27 AM UTC, with period number 620.9536.
Currently there 17.680 million ETH held hostage on the Beacon Series, which equates to $29.45 billion. Some observers believe that unlocking ETH will greatly affect the price of ETH as those who wanted to sell their ETH will eventually be able to do so.
Ethereum core developers have been actively preparing for the Shapella upgrade in the past few months. They have successfully trained to withdraw on three public test grids: Sepolia, Zhejiang, and Goerli.
ETH is currently trading at $1,660, up 2% in the last 24 hours and 8.6% in the past seven days, according to data From CoinGecko. The second largest blockchain has a market capitalization of $200 billion.
on the flip side
- Some industry observers believe that the Shapella upgrade will not lead to massive ETH sales. Instead, the majority of stakeholders will move to liquid freezing To get more flexibility with ETH.
Why should you bother
ETH bet withdrawals are one of the most significant upgrades on the Ethereum blockchain in history. Those who believe there will be a sell-off after drawdowns are enabled should consider hedging their positions or develop another plan to avoid losing investment value.
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