Ethereum may be heading towards a new 2023 high after the Shapella upgrade

Ethereum developers have confirmed that the Shapella upgrade is stable. Meanwhile, ETH prices are poised to return to an eight-month high.

The long-awaited Ethereum Shapella upgrade has gone live without a hitch. On April 13, lead developer Tim Biko confirmed that the network is stable.

A few hours ago, it is male Some minor glitches, but all was well.

“A couple missed blocks early on, likely due to the high number of BLS changes to Gossip, but overall it looks stable now.”

Ethereum Staking Unleashed

Fears of an exodus of ETH piling up and flooding the markets have been eased. Glassnode reported that an additional 2,381 validators joined the exit queue in the week leading up to the Shanghai upgrade. That brings the total to 3,579 as of a few hours ago.

It added that this equates to 114,528 ETH withdrawn, or 0.6% of the total stake. She emphasized that not all of this would be released at once, however:

“Only 57,600 ETH will be issued per day as the queue organizes the exit amounts.”

Graph of cumulative exits by ETH Staking glass

On April 12, BeInCrypto reported that less than 1% of cryptocurrency ETH was likely to be sold.

currency metrics estimated About 1.2 million ETH can be withdrawn over the next five days. However, this may not necessarily be for sale.

Meanwhile, analytics platform Nansen has launched a dashboard that shows how much ETH is being withdrawn. At the time of writing, the number of net deposits has shrunk by 65,974 ETH.

It has yet to make a dent in the 18 million ETH that is still hanging around and securing the network.

Ethereum Shapella - Nansen upgrade stats
Ethereum Shapella upgrade stats – Nansen

Ethereum defended by Anthony Sassano pointed out There is another major upgrade in the pipeline.

“The next major feature is EIP-4844 as part of the ‘Dencun’ network upgrade (hopefully later this year) which will greatly enhance scalability on Ethereum. Ethereum continues to win.”

ETH prices are an inch higher

Ethereum prices skyrocketed after the Shapella upgrade. As a result, ETH was trading up 2.9% on the day at $1,920 at the time of writing.

Moreover, the asset is very close to the eight-month high recorded earlier this week.

ETH/USD 1 week chart by BeInCrypto
ETH/USD 1 week chart by BeInCrypto

However, ETH may decline if Bitcoin is unable to break its resistance at $30,000. Cryptocurrency markets are likely to see a correction after the sustained gains of the past month.


Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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