Ethereum’s Shanghai Upgrade Is Complete, Starting New Era of Staking Withdrawals
The Shapella upgrade was triggered at 22:27 UTC and is processing withdrawal requests. Source
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Shanghai
Ethereum Shanghai Upgrade Will Be a ‘Game Changer’ for ETH Token Holders, RockX CEO Says
“We do think this is actually a game changer,” Chen told CoinDesk TV’s “First Mover” on Wednesday about the network’s Shanghai (or Shapella) upgrade. “If you think about it, this is the first time that Ethereum has a long-term, market-risk-free yield curve that can actually go for a long run.” Original
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Only a Tiny Amount of ETH Is Poised to Be Withdrawn After Ethereum Shanghai Upgrade, Nansen Says
The blockchain analytics firm says nearly 4,000 validators have already unstaked 141,499 ETH (worth about $270 million) that’s currently waiting to be withdrawn. This represents less than 1% of Ethereum’s total validators and staked ETH, according to Nansen. Crypto exchange Huobi is waiting to remove almost 40,000 ETH, making it
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LIVE BLOG: Ethereum's Shanghai Upgrade
CryptoX reporters and editors chronicle the first-ever activation of withdrawals from the Ethereum staking mechanism, set for Wednesday at 6:27 p.m. ET ( Developers refer to the upgrade as "Shapella" since it includes the "Capella" changes to the blockchain's consensus layer as well as "Shanghai" on the execution layer. Source
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Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade
Glassnode said the estimate was made based on a “50% withdrawal credential update, our segmentation of depositors, and assumptions regarding investor conviction, and profitability” by using wallet behavior, period of staking and presence of liquid staking derivative products, such as Lido. Source
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Crypto Analysts Split on Ether Market Trends After Ethereum’s Shanghai Upgrade
“We expect 553,650 ETH will be sold. Amortized over 7 days, this amounts to approximately 1% of daily ETH volume (including spot and perpetual futures volume) of selling per day for a week,” analysts at Galaxy Digital said in a note published early this month. “Depending on the risk environment
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Ethereum’s Shanghai Upgrade on Deck; Developers, Traders Aflutter With Anticipation
“There’s always a chance that there could be unfound bugs, but we feel that we tested the upgrade extensively and weren't able to find any issues that prevent us from scheduling the upgrade,” said Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation. Source
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Here is What Analysts Are Saying About the Ethereum Blockchain’s Shanghai Upgrade
Bank of America (BAC), meanwhile, doesn’t expect the Shanghai liquidity event to directly drive ether selling pressure, but it does expect increased volatility around the event due to lower liquidity, exchange inflows, derivatives activity and price action related to the previous upgrade, the Merge. Source
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Ethereum’s Shanghai Upgrade Only a Small Step Forward: Bank of America
The main concern around the Shanghai liquidity event is that validators could withdraw and sell staked ETH, which makes up 16% of the total ETH supply, but the withdrawal process is designed to “prevent a short-term mass exodus of validators and the resulting security risks,” the note added. Source
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Less than 1% of staked ETH estimated to sell after Shanghai upgrade: Glassnode
An estimated 170,000 Ether (ETH) of the total 18.1 million ETH staked on the Beacon Chain will be unlocked within the first week of the Shanghai hard fork being executed on Ethereum, Glassnode has predicted.The figure comprises 100,000 Ether ($190 million) worth of staking rewards and 70,000 ETH worth of
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