ETH Shanghai Upgrade Successfully With 18.15 Million ETH Committed Accumulation
Ethereum’s most important ETH Shanghai upgrade in 2023 long awaited by the community – has officially been successfully activated. The Shanghai hard fork is a significant milestone to change the Ethereum network. “Shapella” is the next upgrade in the predetermined roadmap after The Merge. One of the crucial proposals above is EIP-4895, which helps unlock the “huge” amount of staking ETH for Ethereum 2.0 belonging to The Merge.
Ethereum has opened a staking contract for ETH 2.0 since December 2020, meaning it has been almost 3 years since the money was detained. Currently, the amount locked has reached more than 18.15 million ETH, worth about 34,5 billion USD, at the price of 1,1917 USD/ETH. These coins represent about 15% of all ETH in circulation. Therefore, the price of ETH in the upcoming leg will be significantly affected if stakers decide to take profits after 3 years. After the upgrade, the net withdrawal amount exceeded 10,000 ETH. However, according to Glassnode’s analysis, even in the most extreme case where all of the above ETH is dumped.
Source
https://t.me/Crypto_Futures_Trading
