Executive Summary: Ethereum's Shapella Upgrade Is Live — Now What?
In this article, I cover the Ethereum Shapella upgrade that is now live and enables withdrawals of staked ETH, analyzing the uncertainty around whether this is bullish or bearish for ETH price.
Summary: The Ethereum Shapella upgrade enabling ETH withdrawals is live, making Ethereum fully proof-of-stake, but the price impact remains uncertain as the market decides whether it's a "buy the news" or "sell the news" event.
Leadup to Shapella:
- Enables unstaking and withdrawing staked ETH
- Uncertainty whether bullish or bearish for ETH price
How Ethereum upgraded:
- Went live at epoch 194,048
- Enables partial and full withdrawals of staked ETH
Where Ethereum is headed next:
- Sharding seen as next big upgrade
- Could significantly lower gas fees
- Likely bullish for long-term network growth
Price impact uncertain:
- Some analysts expect ETH dump, others see opportunity
- On-chain data shows up to 170K ETH may be sold
- Price action will play out over coming weeks
Conclusion:
- Upgrade is positive step in Ethereum's development
- But market will decide if bullish or bearish for ETH price
Full article:
Ethereum’s Shapella Upgrade Is Live — Now What? | CoinMarketCap
The Shapella (Shanghai + Capella) upgrade successfully went live on epoch 194,048, block height 6209536 at 22:27 UTC on April 12, 2023.
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