Ethereum, one of the leading blockchains in the cryptosphere, has successfully integrated the Shapella upgrade. The Shanghai upgrade took place on Epoch 194,048. The upgrade has been the highlight of the Ethereum community since its transition from Proof-of-Work to Proof-of-Stake consensus mechanism.
Read Ethereum’s [ETH] Price Prediction 2023-2024
The upgrade allows users to unstake their ETH for the first time since December 2020. This is about 16% of ETH, about 18 million ETH, will be unlocked for withdrawal. The unlock of the staked ETH was predicted to lead to major sell-offs by many investors in the market. However, some anticipate the processing of the unstaking request to take weeks or even months because of high demand.
Notably, the Shapella upgrade is a combination of the Shanghai and Capella upgrade. The Shanghai upgrade takes place on the execution level, while Capella takes place on the consensus level. And its final testing took place on March 14, 2023, on the Goerli public Testnet.
The story is still developing.
