Ethereum’s highly anticipated tech update, often referred to as the Shanghai or Shapella upgrade, enabled withdrawals of some 18 million tokens, worth $35 billion, previously locked up in staking contracts starting April 12. After the upgrade, ETH’s price rallied to $2,100, its highest level in 11 months, defying earlier concerns that the unlocking could lead to significant selling pressure and a price crash. The token recently has dropped below $1,900, aligning with a broader crypto market decline.
Source: https://www.coindesk.com/markets/2023/04/21/ethereums-shanghai-upgrade-spurs-institutional-investment-into-staking/?utm_medium=referral&utm_source=rss&utm_campaign=headlines