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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.

CoinDesk reporters and editors chronicle the first-ever activation of withdrawals from the Ethereum staking mechanism, set for Wednesday at 6:27 p.m. ET ( Developers refer to the upgrade as "Shapella" since it includes the "Capella" changes to the blockchain's consensus layer as well as "Shanghai" on the execution layer.

LIVE BLOG: Ethereum's Shanghai Upgrade

On-chain analysis from Glassnode estimates that roughly 170,000 ETH will be withdrawn and sold after the Shanghai upgrade.

More Than $300 Million in Ethereum Will Be Sold After Shanghai, Analysts Say

The latest price moves in bitcoin (BTC) and crypto markets in context for April 11, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Ether's Shanghai Rumble

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the key $30,000 level on Wednesday following the release of inflation data. The headline CPI came in at 5% year-on-year in March, down from 6% in February, according to data the Labor Department reported on Tuesday.

Ethereum Falls Below This Key Level Following Inflation Data; Rocket Pool, Conflux Among Top Losers

Bitcoin

Bitcoin consolidated around the $30,000 mark on Wednesday, as markets prepared for the release of the latest inflation report in the United States. Consumer prices in the U.S. are expected to fall to 5.2% in March, down from 6% the month prior. Ethereum also consolidated, dropping back below $1,900.

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Around $30,000, Ahead of US Inflation Report

Nearly 1.1 million ether — worth $2 billion — in accumulated rewards will be available for withdrawal after Shapella, according to on-chain estimates.

Ethereum rewards worth over $2 billion will be liquid in first five days after Shapella

Ether has underperformed bitcoin in the lead up to the Shapella upgrade, resulting in a 13.7% year-to-date decline in the ETH/BTC ratio.

Ether-Bitcoin Ratio Likely to See Deeper Decline After Shapella Upgrade: QCP Capital

Governance tokens for liquid staking protocols on Ethereum have fallen in price over the last few days.

Ethereum liquid staking governance tokens fall ahead of Shapella upgrade

The much-awaited Shapella upgrade for the Ethereum (CRYPTO: ETH) network has arrived, and analysts have weighed in on what it could mean for the world's second-largest cryptocurrency.  What Happened:  While some traders and analysts have expressed concerns about the potential impact of the phased release of staked Ethereum, on-chain analytics firm Glassnode said only a tiny fraction of staked Ethereum will be sold following the upgrade.

Ethereum Shapella Upgrade Unlikely To Cause Major Sell-Off, Glassnode Data Reveals

Their thinking is contrary to other market observers, who believe a mass-sell-off following the “hard fork” will send prices downward.

Crypto Analysts Split on Ether Market Trends After Ethereum's Shanghai Upgrade

Two major Ethereum network upgrades that are expected to occur simultaneously on April 12 will allow investors to withdraw their ether staked on the Ethereum blockchain.

Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade

Developers and crypto market analysts are getting in their final words before staked ETH withdrawals are activated.

Ethereum's Shanghai Upgrade on Deck; Developers, Traders Aflutter With Anticipation

Analysts differ on the amount of ether (ETH) selling pressure that could result from the Ethereum blockchain's Shanghai upgrade, scheduled for later today. The Shanghai upgrade (aka Shapella), will enable validators to withdraw staked ether and rewards that have been locked up.

Here is What Analysts Are Saying About the Ethereum Blockchain's Shanghai Upgrade

Widely followed crypto analyst Benjamin Cowen is updating his outlook for Ethereum (ETH) for the second half of the year as Bitcoin (BTC) enters the $30,000 level. In a new strategy session, Cowen tells his 785,000 YouTube subscribers that Ethereum may dip lower before seeing new all-time highs.

Benjamin Cowen Outlines Ethereum Outlook for Rest of 2023 – Here's Why ETH Could Face ‘Brutal' Recovery

The software that underpins the second-biggest crypto coin ether is due for a software upgrade on Wednesday that will give investors access to more than $30 billion of the digital tokens.

Ethereum upgrade to unlock over $30 billion in crypto tokens

The blockchain's likely inability to increase throughput in the short term and increasing competition from alternative networks will constrain its adoption and usage, the report said.

Ethereum's Shanghai Upgrade Only a Small Step Forward: Bank of America

Traders are likely taking profits ahead of Wednesday's CPI report and Ethereum's Shapella upgrade.

Bitcoin Slips Under $30K, Ether Staking Tokens Take a Beating Ahead of Shapella Upgrade

The Ethereum blockchain is set to undergo its next major update since the network switched from proof-of-work to proof-of-stake through The Merge. The upcoming upgrade, dubbed “Shapella,” which combines the Shanghai and Capella validator changes, is expected to take place on April 12, 2023.

Ethereum's Shapella Upgrade to Enable Staking Withdrawals Set to Go Live on April 12

Dogecoin

Major coins traded mixed on Tuesday evening, as investors eagerly anticipated two significant events happening on Wednesday — the consumer price index, or CPI, report for March and the Ethereum Shapella upgrade. Cryptocurrency Gains (+/-) Price (Recorded 9:30 p.m.

Bitcoin Holds $30K, Ethereum Drops Before Shapella Upgrade, Dogecoin Down: Analyst Predicts Drop For Top Crypto

Personal finance author and investor Ric Edelman has outlined his top strategy for navigating the digital asset markets. Edelman, who is also the founder of the Digital Assets Council of Financial Professionals (DACFP), says in a new Real Vision interview that he's currently “overweight” in his exposure to crypto.

Best-Selling Author Ric Edelman Reveals Crypto Portfolio Strategy, Says He Holds More Ethereum Than Bitcoin

Investors will be eyeing Wednesday's U.S. Consumer Price Index for the latest reading on inflation and the Shanghai “hard fork.”

Bitcoin Holds Firm Above $30K, Ether Hovers Near $1.9K Ahead of CPI, Shapella Upgrade

Various factions of the Ethereum community are planning watch parties to witness the first-ever withdrawals of staked ether, with the blockchain's Shanghai upgrade (aka "Shapella") set for Wednesday at 22:27 coordinated universal time (6:27 p.m. ET).

Ethereum's Shanghai Upgrade: Here's Our Guide to Watch Parties, Blockchain Tools

Ethereum's about to get a new upgrade, with withdrawals being enabled for ether stakers. The price implications aren't expected to be substantive, although some disagree.

JPMorgan, Fidelity at odds on the impact of Ethereum's Shapella upgrade on ether

Ethereum is expected to address the implementation of proto-danksharding in the months after Wednesday's Shanghai upgrade (also referred to as "Shapella"), as well as other mechanisms that will make the blockchain more scalable. Last year saw the Merge.

What's Next After Ethereum's Shanghai Upgrade?

Being able to unlock staked ether will not cause a mass exodus or price collapse for the cryptocurrency, Amphibian Capital CEO James Hodges says.

News for Ethereum Crypto (ETH)