Ethereum Shanghai hard fork and token unlock: A complete guide to unstaking ETH

• Ethereum Shanghai Hard Fork’s activation in March 2023 will be closely followed by a token unlock of at least 35,008 ETH. 

• To facilitate Ethereum unlock, the nodes storing data and processing transactions need to ensure that their withdrawal credentials are updated.

• Ethereum price is on track to hit the $1,500 level in another leg up, according to the Elliott Wave Theory. 

Ethereum Shanghai Hard Fork is the next key milestone for the second-largest cryptocurrency by market capitalization. The event is closely followed by a token unlock, where at least 35,008 ETH will be unlocked shortly after the hard fork is successful. 

This post outlines how validators can prepare for token unlock, the minimum volume of ETH tokens that are likely to flood the market and what to expect from Ethereum price. 

Ethereum network’s Shanghai upgrade is the next major developmental milestone post the altcoin’s Merge. The Merge marked ETH’s successful transition from proof-of-work to proof-of-stake consensus mechanism and reduced energy usage by 99.9%. The Shanghai hard fork will be closely followed by ETH token unlock. 

Read More: https://www.fxstreet.com/cryptocurrencies/news/ethereum-shanghai-hard-fork-and-token-unlock-a-complete-guide-to-unstaking-eth-202301111020

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