Shapella: How Ethereum's latest upgrade could impact ETH price and ecosystem growth Cryptocurrencies
Scheduled for around 10:30 pm UTC on April 12, Shapella’s single most significant change is that it enables validators who have staked the required minimum of 32 ETH to unstake them immediately, and anytime they choose thereafter.
Some have predicted a massive short-term selloff in the wake of the upgrade as billions of dollars' worth of ETH becomes unstaked and tradeable in a very short time. Zhao said he doesn’t expect a big price dump for ETH, because many of those who withdraw will restake with larger positions, while new market participants will be enticed to begin staking for the first time.
“These people are actually believers in the ecosystem, so maybe they will test out the withdrawal mechanism, but I do think they will try to get back in again, because they actually have high confidence in the ecosystem.” The update also streamlines some of the technical hurdles that have hampered adoption to date, which makes staking more attractive to the less technologically proficient members of the crypto community.
Once Shanghai and Capella are implemented and validators can withdraw their ETH, there will be no minimum lockup times or mandatory cooldown periods. Instead, the bottleneck becomes the number of unstaking requests the network will process. “Because the Shanghai upgrade is really a major upgrade, and we're trying to introduce a new mechanism, naturally we want to make sure everyone knows how it works and how this will affect the network. So a little bit slower probably is better for the network.”
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