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Unlock 111,000 ETH: Shanghai Upgrade Gives Ethereum a Boost

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The Ethereum Networks’ highly-anticipated Shapella upgrade officially went live last night, which then saw more than 111,000 ETH withdrawn in just 24 hours. Moreover, the proof-of-stake (PoS) upgrade made the withdrawal of staked Ethereum a possibility for users. New on-chain data revealed from Lookonchain assessed ETH withdrawals following the arrival of the Shanghai upgrade. Subsequently, gathered metrics indicate that 111,378 ETH, worth around $216.3 million, were withdrawn following the upgrade’s arrival.

Just 13 hours ago, the final step in the Ethereum transition from proof-of-work (PoW) to its new PoS consensus mechanism went live. Specifically, with the arrival of the Shanghai upgrade, Ethereum saw more than 111,000 ETH withdrawn in just 24 hours.

According to Etherscan data, that number has already increased to more than 163,000 ETH withdrawn. Yet, it still shows users were both anxiously awaiting the upgrade’s arrival, and fast to take advantage of its newly offered benefits.

U.Today noted that currently, only 19,869 validators (713,195 ETH) are waiting for a full withdrawal. Specifically, that figure only accounts for a percentage of 3.5%. Conversely, partial withdrawals were noted as processing much faster than full withdrawals.

Moreover, there are many who believe that the ETH redemptions could lead to an influx of selling. Subsequently, a development place Ether on a downward trend. Yet, currently, the crypto is at $1,995, which is up 3.95% over the last 24 hours.

Still, outside of the 24-hour mark presents an interesting point of observation of the crypto in the short term. Moreover, how the price responds on the 7-day chart will provide insight into the rather immediate mark that the new upgrade has had on the digital asset’s price performance.

The Ethereum Network’s Shanghai upgrade has brought a massive withdrawal of ETH from users. The upgrade allowed users to withdraw staked ETH, and over 111,000 ETH were withdrawn in just 24 hours. The upgrade has seen a positive outcome for Ethereum, with the price up 3.95% in the last 24 hours. It’ll be interesting to see how the price responds in the next 7 days, in order to assess the immediate impact of the upgrade.

#Ethereum #Shapella #ETH #Shanghai

You can read more about this topic here: Watcher Guru: Ethereum: More Than 111,000 ETH Withdrawn Just 24 Hours After Shanghai Upgrade

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ing the Tax Law Uncover the Secrets of Tax Law with David L. Schwed

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David L. Schwed is the Chief Operating Officer for Halborn. He was interviewed at Messari Mainnet 2023 by André Beganski to discuss the upcoming video game AI Arena, as well as Avantgarde Finance CEO and founder Mona El Isa, who talked about how DeFi has changed since the collapse of FTX. This interview provides insight into the current state of the crypto space and what the future may bring. #Crypto #DeFi #AI #FTX

You can read more about this topic here: Decrypt: David L. Schwed

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Uncover the Secrets of Tax Law with David L. Schwed first appeared on Byte Syze Crypto.

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ing the Ins and Outs of Cryptocurrency Unlock the Secrets of Cryptocurrency with Dave Lemke

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This article provides an overview of the current prices of various cryptocurrencies, such as Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, and others. It also provides a link to the Decrypt website, which includes videos and podcasts interviews with big names in the crypto space. This news is good for those who are interested in cryptocurrency and want to stay up to date with the current prices.
#Cryptocurrency #CryptoPrices #CryptoNews #CryptoInterviews

You can read more about this topic here: Decrypt: Dave Lemke

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Unlock the Secrets of Cryptocurrency with Dave Lemke
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ing the Mystery of SEO Unlock the Secrets of SEO with Amanda Tuminelli: A Guide to Maximizing Your Site’s Visibility

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This article provides the latest prices of various cryptocurrencies, such as Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, and more. It also provides a brief interview with Amanda Tuminelli, the Chief Legal Officer of the DeFi Education Fund. This article provides useful updates on the crypto market, allowing users to stay informed and make informed decisions. #Cryptocurrency #CryptoMarket #DeFi #CryptoInvesting

You can read more about this topic here: Decrypt: Amanda Tuminelli

The post ing the Mystery of SEO
Unlock the Secrets of SEO with Amanda Tuminelli: A Guide to Maximizing Your Site’s Visibility
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