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Ethereum [ETH] Nosedives As Shanghai Upgrade Gets Pushed to April

The much-anticipated Shanghai Upgrade that would enable the withdrawal of staked Ethereum [ETH] has been pushed to the second week of April, as decided during the network’s core developers’ call.

Much to the disappointment of stakers who were eagerly looking for an end to the two-year wait, the developers arrived at the consensus that the mainnet launch for the upgrade would happen a month after the Goerli testnet launch which was fixed for 14 March during the call.

The news of the delay pulled ETH to its lowest value in over two weeks, as per CoinMarketCap. The king of the altcoins plunged 4.64% in the last 24 hours to trade below $1600.

ETH’s Long/Short Ratio dipped below one. Thus, indicating that the number of long positions dropped. This could be due to investors’ bearish outlook toward the coin.

(By Suzuki Shillsalot)

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