{"id":19841,"date":"2023-04-14T05:51:59","date_gmt":"2023-04-14T05:51:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereums-shapella-upgrade-unlocks-staked-ether-over-860k-eth-poised-for-withdrawal-price-surges-6-bitcoin-news\/"},"modified":"2023-04-14T05:51:59","modified_gmt":"2023-04-14T05:51:59","slug":"ethereums-shapella-upgrade-unlocks-staked-ether-over-860k-eth-poised-for-withdrawal-price-surges-6-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereums-shapella-upgrade-unlocks-staked-ether-over-860k-eth-poised-for-withdrawal-price-surges-6-bitcoin-news\/","title":{"rendered":"Ethereum’s Shapella Upgrade Unlocks Staked Ether, Over 860K ETH Poised for Withdrawal, Price Surges 6% \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Wednesday, April 12, 2023, at 6:30 p.m. Eastern Time, Ethereum\u2019s Shapella upgrade was successfully implemented, enabling validators to withdraw staked ether. Data reveals that more than 860,000 ether is poised for unlocking, and 77,000 ether is expected to be withdrawn on Thursday. Ether\u2019s price has experienced a surge, rising 6% against the U.S. dollar within the past 24 hours.<\/strong><\/p>\n

Staked Ether Can Now be Withdrawn Following the Network\u2019s Shapella Upgrade<\/h2>\n

Ethereum underwent a substantial update on April 12 when the Shapella hard fork<\/a> launched, allowing validators to access their staked coins. This marks Ethereum\u2019s first major development since The Merge\u2014the transition from proof-of-work (PoW) to proof-of-stake (PoS). The hard fork officially took effect at epoch 194,048 or 6:30 p.m. (ET) on Wednesday.<\/p>\n

Since the upgrade, numerous validators have prepared to withdraw their staked ether. However, ether<\/a> withdrawal restrictions include a daily limit and a waiting list for validators. Withdrawals are available in two forms: those for reward withdrawals and those for the required 32-ether validator withdrawals.<\/p>\n

\"Ethereum's
Ethereum Shanghai Unlock stats, according to token.unlocks.app.<\/figcaption><\/figure>\n

As of 9:30 a.m. (ET) on Thursday, April 13, 2023, over 860,000 ether<\/a>\u2014valued at $1.71 billion using current exchange rates\u2014are awaiting withdrawal. A staggering 17.46 million ether worth more than $34 billion is currently locked for staking purposes. The annual percentage rate (APR) for staking ether stands at 5.06%.<\/p>\n

Despite the upgrade, Ethereum network transaction fees have remained relatively stable. The average transaction fee on Thursday is approximately 0.0029 ETH<\/a> or $5.72 per transfer, while the median fee hovers around 0.0013 ETH<\/a> or $2.66 per transfer. On Thursday, ethereum (ETH)<\/a> climbed above $2k per unit, reflecting a 6% increase over the past 24 hours. Additionally, ETH<\/a> dominance has risen to encompass 19.3% of the entire crypto-economy with a market cap surpassing $241 billion.<\/p>\n

What do you think the successful implementation of the Shapella hard fork means for Ethereum\u2019s future and the wider cryptocurrency market? Share your thoughts and predictions in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, token.unlocks.app<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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