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Shanghai Hard Fork

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cryptocurrency2 years ago

Ethereum's Shanghai Upgrade Marks New Era for Staking Withdrawals and Trading.

Ethereum's Shanghai hard fork, also known as "Shapella," has been completed, allowing users who have staked their ether (ETH) to withdraw their funds and rewards. The upgrade marks a historic milestone for Ethereum, completing its multi-year transition to a full proof-of-stake network. The next issue the blockchain will tackle is scaling to make transactions faster and cheaper. Validators who want to exit the chain can now fully unstake their 32 ETH and any rewards they've accumulated. The unlocking of ETH deposited into the Beacon Chain may cause some selling pressure, but it is expected to be distributed over several days.

via CoinDesk|
#cryptocurrency#ethereum#proof-of-stake
cryptocurrency2 years ago

Shanghai Upgrade Unlocks $34B in Ether, Crypto Prices to Rise?

Only 253 validators have signed up to fully exit their staked Ether position after the Shanghai hard fork on Ethereum, according to Glassnode. The analytics firm predicts that only 170,000 ETH of the total 18.1 million staked on the Beacon Chain will be unlocked within the first week of the upgrade, with mechanisms in place to prevent a flood of Ether supply from hitting the market all at once. Glassnode expects a large amount of Ether to be withdrawn from Kraken after the legality of its staking services was challenged by the SEC, but it is unlikely to happen immediately after the upgrade.

via Cointelegraph|
#cryptocurrency#ethereum#glassnode
cryptocurrency2 years ago

Shanghai Upgrade: Will It Impact Ethereum's Price?

The upcoming Shanghai hard fork of Ethereum is unlikely to have a significant impact on the price of ether, according to Ether Capital CEO Brian Mosoff. The upgrade will allow users to withdraw the ether they have staked, but Mosoff believes that this will not lead to a rush to liquidate. Instead, he expects to see more ETH locked into staking, which could attract traditional finance investors looking to earn yield on their investments. The upgrade is the final step towards implementing Ethereum's proof-of-stake consensus mechanism.

via CoinDesk|
#cryptocurrency#ethereum#proof-of-stake
cryptocurrency2 years ago

Ethereum's Shanghai Hard Fork Boosts ETH Price Against Bitcoin in April.

Ethereum's price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away. The upgrade is set for April 12, enabling Ethereum stakers to withdraw around 1.1 billion ETH in rewards. Many experts see the hard fork as bullish for Ether in the long term. As a result, the ETH/BTC pair has risen by about 4.75% month-to-date to reach 0.066 BTC as of April 8, a nearly 8% rebound since March 20. Ether could sustain its yearly gains in April, consolidating inside the $1,800-2,000 range until the Fed decision.

via Cointelegraph|
#cryptocurrency#cryptocurrency-market#ethbtc
cryptocurrency2 years ago

Ethereum Surges Ahead of Shanghai Upgrade and Token Accessibility Improvement.

Ethereum's native token, Ether (ETH), surged to $1,941, its highest level since last August, and is expected to meet resistance near $2,000 ahead of the upcoming Shanghai hard fork, which will mark the completion of Ethereum's full transition to a proof-of-stake network. Meanwhile, Bitcoin remained range-bound between $27,000 and $28,500. Traders' preference for upside exposure was reflected in ETH's 25-delta calls becoming more expensive than its 25-delta puts. Altcoins, including Stargate Finance's STG token, gained while encrypted messaging protocol Mask Network's MASK token sank.

via CoinDesk|
#altcoins#cryptocurrency#cryptocurrency-market
cryptocurrency2 years ago

Ether Emerges as Top Contender Amid Bitcoin Rally.

While Bitcoin continues to surge, crypto traders are turning their attention to Ether ahead of the upcoming "Shanghai Hard Fork" upgrade to the Ethereum blockchain network. Ether has outperformed Bitcoin in the past week, with prices rising 3% to over $1,900. The upgrade is expected to make staking easier, which could support prices, but may also cause selling pressure as some investors exit their positions. Altcoins like Cardano and Polygon have also seen gains, while memecoins like Dogecoin and Shiba Inu have weakened.

via Barron's|
#bitcoin#crypto-traders#cryptocurrency