Ethereum Shapella Upgrade Activated- Stakers Can Now Unstake Their ETH, What’s Next?

Ethereum Shapella Upgrade Activated- Stakers Can Now Unstake Their ETH, What’s Next?

A couple of weeks after the Sepolia testnet was successfully upgraded to Shapella to simulate the Shanghai hard fork, the Shapella upgrade has now been successfully activated on the Goerli testnet. The development is at its final stage, where-in the mainnet upgrade is expected to take place somewhere in the coming month. 

Ethereum is heading fiercely toward the launch of the Shanghai hard fork, and the recent upgrade to the network has taken the process a step forward. Tim Beiko, the lead developer, announced the successful fork of the Goerli testnet, which was necessary before the Shapella went live on the mainnet. 

The upgrade was triggered at 10:26 UTC, epoch 162,304. The developer also announced that the deposits are undergoing processing but also noted that several indicators have not yet been updated. He also said that the long and short of the staked ETH withdrawal can now undergo processing on the Goreli testnet. 

While the mainnet upgrade is a month away, the ETH price appears to have geared up notably, which has also been fueled by positive market sentiments. However, after the upgrade, the consensus is that liquidation staking solutions like Lido Finance may witness a surge with the unlocking of the staked ETH. 

The amount of ETH staked on liquid staking solutions recently crossed 7 million, worth more than $12 billion. Therefore, it is believed that it may have a significant impact on the Ethereum (ETH) price in the future. 

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Written by: Sahana Vibhute


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