• Ethereum developers announced the deadline for the Shanghai-Capella upgrade (known as Shapella) to be April 12, 2021.
• The update will bring validator staking withdrawals and three other enhancements to reduce gas expenses on certain operations.
• Industry experts believe that this upgrade will have a beneficial influence on Ethereum’s price.
Ethereum Shanghai Upgrade Deadline Announced
The architects of the Ethereum (ETH) network have disclosed a new probable date for the highly awaited Shanghai upgrade, bringing the prospect of accessing staked ETH one step closer to investors. The April 12 deadline for the Shanghai-Capella upgrade, also known as Shapella, was decided upon by the network’s core developers at a meeting on March 16.
What is included in “Shapella” Update?
The update’s primary attraction is EIP 4895, which implements validator staking withdrawals on the leading network. This crucial feature was left out of Ethereum’s switch to proof-of-stake (PoS) consensus in September after the merge upgrade. In addition, Shapella will include three other enhancements meant to reduce gas expenses for certain operations. Developers have been conducting public tests in Sepolia, Zhejiang, and Goerli since February in preparation for the withdrawals.
How is Ethereum Doing Today?
Ethereum, the second most renowned crypto asset after BTC, is doing well today according to stats provided by CoinMarketCap. ETH is trading at $1,746 at press time having recorded an increase of 4.9% from its previous 24-hour valuation with 10% lower trading volume but 5% higher market cap than before – coinciding with BTC also having a good day today..
How Could this Upgrade Affect Etheruem’s Price?
As there was a large infusion of money just before the merge upgrade it is expected that this Shanghai upgrade will have a beneficial influence on ethereum’s price due to expanding staking choices and releasing staked ETH onto their respective validator sets without any issues – both acting as bullish catalysts likely leading to an increased value of Ethereum over time.
Conclusion
The deadline set by core Ethereum developers has given investors more certainty about when they can expect access to their staked ETH with minimal issue – Effectively opening up further opportunities for capital gains through investing in crypto assets backed by Etheruem such as CryptoKitties or MakerDAO tokens among others..
