Ethereum Surges and Prepares for Major Market Impact After Shanghai Upgrade.
Originally Published 2 years ago — by CoinDesk
Ether reached an eight-month high of $1,994 following a successful network upgrade called Shanghai, which enabled withdrawals for users who have staked their ether. The demand for unstaking ether has been moderate, with the biggest unstaker being Kraken, which is shutting down its staking service for U.S. users. The selling pressure is likely to be less than what the market initially feared, according to North Rock Digital’s founder Hal Press. Ether has gained over 3% since the upgrade, while market leader bitcoin has added less than 2%.