{"id":286681,"date":"2023-01-06T11:45:00","date_gmt":"2023-01-06T11:45:00","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=286681"},"modified":"2023-01-06T11:38:57","modified_gmt":"2023-01-06T11:38:57","slug":"shanghai-upgrade-to-include-ethereum-unstaking","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/shanghai-upgrade-to-include-ethereum-unstaking\/","title":{"rendered":"Shanghai upgrade to include Ethereum unstaking"},"content":{"rendered":"

Ethereum developers said the upcoming Shanghai upgrade, slated for March, would add functionality to withdraw staked ETH, according to Bloomberg News<\/a>.<\/p>\n

The confirmation brings welcome relief for stakers and vested parties, who, following ongoing speculation over indefinite token lock-in<\/a>, now see the light at the end of the tunnel.<\/p>\n

Since the Beacon Chain went live in November 2020, Ethereum deposited into the staking contract has amassed at a steady rate. Currently, 15.9 million<\/a> ETH, valued at approximately $19.8 billion, have been deposited, representing 13.2% of the supply.<\/p>\n

What now for Ethereum?<\/h2>\n

Data from Messari showed Ethereum has the lowest staking ratio of any major Proof-of-Stake (PoS) chain. The staking ratio of other significant PoS chains ranged between 46%, going as high as 90% for BNB.<\/p>\n

\"Staking
Source: Messari.io<\/figcaption><\/figure>\n

Twitter user @MStiive<\/span><\/a> expects as March approaches “a radical increase<\/span>” in staked Ethereum will occur, pushing the staking ratio higher and more in line with other chains.<\/p>\n

However, others speculate that enabling withdrawals would trigger an ETH exodus en masse, adding to sell pressure in an already fragile market still reeling from the scandals of last year.<\/p>\n

What to expect from Shanghai<\/h2>\n

Shanghai<\/a> is the next major upgrade for the Ethereum network, following the Merge in September 2022. Key highlights of what to expect include:<\/p>\n