Ether (ETH) has gained 6% in the last 24 hours ahead of the Ethereum blockchain's Shanghai upgrade, according to a research report by Bernstein. The upgrade, scheduled for April 12, will enable the withdrawal of staked ether. The report notes that almost 70% of staked ether is via liquid staking protocols such as Lido, allowing investors to sell their stETH regardless, and the remaining staked ether has been directly staked into the beacon chain. The ability to deposit and withdraw ether easily gives more confidence for holders to stake, and those on the sidelines are more likely to stake now, the report added.

(By Will Canny)