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Ethereum

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games. Ether is the native token for the Ethereum ecosystem.

The Ethereum blockchain is preparing a significant upgrade, called the Ethereum Merge, tentatively scheduled for Sept. 13-16, 2022.

The Merge reflects a shift in Ethereum’s protocol in which the blockchain will move from a “proof-of-work” to “proof-of-stake” system.

Miners validate transactions by solving complex calculations before a new block can be added to the chain. This is the mechanism that Bitcoin ($BTC) runs on.

Miners are replaced by “validators,” who stake the ETH they own to validate new blocks on the chain. Avalanche ($AVAX) and Solana ($SOL) are proof-of-stake.

The Ethereum Foundation reports that moving to a proof-of-stake model will reduce the blockchain’s energy consumption by more than 99%.

Ether ($ETH) is Ethereum’s native crypto asset, while Ethereum is the underlying blockchain. No disruptions to ETH are expected following the Merge.

Unlike Bitcoin, the founder of Ethereum is publicly known. Vitalik Buterin published Ethereum’s introductory paper in 2013 and launched the project in 2015.

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games.

The Ethereum Foundation

*This content is for educational purposes and is not investment advice.

On Wednesday, April 12, 2023, at 6:30 p.m. Eastern Time, Ethereum's Shapella upgrade was successfully implemented, enabling validators to withdraw staked ether. Data reveals that more than 860,000 ether is poised for unlocking, and 77,000 ether is expected to be withdrawn on Thursday. Ether's price has experienced a surge, rising 6% against the U.S.

Ethereum's Shapella Upgrade Unlocks Staked Ether, Over 860K ETH Poised for Withdrawal, Price Surges 6%

Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments.

Crypto investors face delays in withdrawing funds after Ethereum upgrade

Bitcoin

Ethereum moved above $2,000 on Thursday, as markets continue to react to the successful Shanghai update. The upgrade, which is also known as “Shapella,” took place late last night, enabling withdrawals on the blockchain. Bitcoin remained above $28,000.

Bitcoin, Ethereum Technical Analysis: ETH Hits $2,000 Following Shapella Upgrade

Following the successful execution of Ethereum's latest upgrade, the network's native asset ETH has soared overnight.

Ethereum Surges 6% Following Successful Shanghai Upgrade

We are seeing a sell the rumor buy the fact redux, one observer said, explaining ether's post-Shanghai upgrade rally.

Ether Nears $2K After Shanghai Upgrade, Outshines Bitcoin

Over 822,000 ether is pending withdrawal on Ethereum, with a dollar value of around $1.6 billion. Earlier today, the dollar value amounted to $1.34 billion.

Ethereum's Shapella upgrade pushes ether price toward $2,000 for first time since August

More than $325 million worth of Ethereum (ETH) could hit the open market in the wake of the project's recent Shapella upgrade, according to the crypto analytics firm Glassnode.

Over $300,000,000 in Ethereum To Hit Market After Upgrade, Says Glassnode – Here's What Could Happen to ETH's Price

Ethereum implemented the Shanghai upgrade early Thursday, opening withdrawals of more than 18 million ETH staked in the blockchain since late 2020.

Binance To Support Ether Staking Withdrawals From April 19

Kraken agreed to shut down its US crypto staking service in February as part of a settlement with the Securities and Exchange Commission.

Kraken Leads Ether Unstaking Parade, Makes up 62% of Exit Queue

Galaxy Digital founder and CEO Mike Novogratz is predicting that a US economic slowdown will benefit the two leading crypto assets. In a new CNBC interview, Novogratz says that the crypto rally is due to rising adoption and a belief that the tightening of monetary policy is over or close to an end.

Billionaire Mike Novogratz Predicts Imminent US Credit Crunch, Says Outcome Will Boost Crypto With Ethereum In for ‘Big Win'

Roughly eight hours after Ethereum's Shapella upgrade went live, more than $1.34 billion in ether is waiting to be withdrawn.

Ethereum's pending withdrawals total $1.34 billion after Shapella

The Shapella (Shanghai + Capella) upgrade successfully went live on epoch 194,048, block height 6209536 at 22:27 UTC.

Ethereum's Shapella Upgrade Is Live — Now What?

Earlier this year, in February Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin discussed an ambitious proposal to create an entirely new ETH country. What Happened: Buterin, on Feb. 8, appeared on a podcast "The Network State" hosted by Balaji Srinivasan to discuss the concept of creating a new country.

Remember When Vitalik Buterin Proposed Creating An Ethereum Country In February? Here's What He Said

Dogecoin

Major coins traded mixed on Wednesday evening. Despite the highly anticipated inflation data and the eagerly awaited Ethereum Shanghai upgrade, neither Bitcoin nor Ethereum showed much movement.

Ethereum's Shapella Upgrade Pushes It Higher, Bitcoin, Dogecoin Decline: Analyst Predicts 47% Rally For This Altcoin

ALSO: CoinDesk crypto markets analyst Glenn Williams writes that bitcoin whales recent moves may offer clues about BTC's path forward.

First Mover Asia: Major Cryptos Remain Unstirred by Inflation Data, Ethereum Shanghai Fork

ETH's price was remarkably stable in the minutes following Ethereum's historic, successful Shanghai upgrade, which enabled withdrawals of staked ETH.

ETH Holds Steady Post-Shanghai, Defying Expectations

Trading volume on ethereum trading pairs remained stable following the upgrade.

Ethereum Immediately Up 1% After Ethereum Shanghai Upgrade

Wednesday night's long-awaited code change marks a major victory for the second largest blockchain by market cap.

Ethereum Shanghai Upgrade Goes Live, Unlocking $34 Billion in Staked ETH

The Shapella upgrade was triggered at 22:27 UTC and is processing withdrawal requests.

Ethereum's Shanghai Upgrade Activates, Starting New Era of Staking Withdrawals

What does big money think of the latest Ethereum upgrade? Experts weigh in.

How Shanghai Could Change Institutional Appetite for Ethereum

The core developers of the Ethereum network have successfully implemented the Shapella upgrade through a hard fork, marking the first major update since The Merge upgrade last year.

Shapella, Ethereum's first major upgrade since The Merge, is now live

The “Shapella” upgrade will be the first time the network has a long term market risk free yield curve, and with a growing prevalence in staking, it may help to establish benchmark interest rates for blockchain-based money markets,, Zhuling Chen, said.

Ethereum Shanghai Upgrade Will Be a ‘Game Changer' for ETH Token Holders, RockX CEO Says

Investors are awaiting Ethereum's upgrade, which is expected to go live late Wednesday.

Bitcoin Hovers Around $30K, Ether Holds Above $1.9K Ahead of Shapella Upgrade

The Shanghai upgrade for Ethereum (CRYPTO: ETH), the second-largest cryptocurrency by market cap, is expected to be deployed on Wednesday at 22:27 UTC (6:27 p.m. ET), a milestone in its transition from a proof-of-work (PoW) to a proof-of-stake (PoS) network.

Shanghai Update Imminent: All You Need To Know About Major Ethereum Upgrade Set For Deployment

Ahead of the late-Wednesday change, also known as Shapella, less than 1% of previously staked ETH is in the queue waiting to be withdrawn.

News for Ethereum Crypto (ETH)