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ETH Gains 4% as Ethereum Devs Confirm Date For Shanghai Upgrade

The Ethereum protocol support team has confirmed that the Shapella hard fork will occur on April 12, two weeks from today. Shapella combines changes to the execution layer, the consensus layer, and the Engine API. The upgrade enables validators to withdraw their stake from the Beacon Chain back to the execution layer and introduces new functionality to both the execution and consensus layers. All of the main Ethereum clients, including Lighthouse, Lodestar, Nimbus, Prysm, and Teku, now support the Shapella upgrade. There have been concerns that a large amount of Ethereum will be unstaked and sold to markets following the hard fork. However, this is unlikely to occur due to the phased release, which has been implemented for network security purposes. Ethereum prices have gained around 3.8% over the past 24 hours and ETH was trading at $1,780 at the time of writing. (cryptopotato)

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