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 Data reveals that more than 860,000 ether is poised for unlocking, and 77,000 ether is expected to be withdrawn on Thursday.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. dollar within the past 24 hours.
Staked Ether Can Now be Withdrawn Following the Network’s Shapella Upgrade
Ethereum underwent a substantial update on April 12 when the Shapella hard fork launched, allowing validators to access their staked coins. This marks Ethereum’s first major development since The Merge—the transition from proof-of-work (PoW) to proof-of-stake (PoS). The hard fork officially took effect at epoch 194,048 or 6:30 p.m. (ET) on Wednesday.
Since the upgrade, numerous validators have prepared to withdraw their staked ether. However, ether withdrawal restrictions include a daily limit and a waiting list for validators. Withdrawals are available in two forms: those for reward withdrawals and those for the required 32-ether validator withdrawals.
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Author: Jamie Redman
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