The implementation of Ethereum's Shanghai upgrade, which enabled the withdrawal of staked ETH by the network's participants, did not result in a significant drop in the price of ETH, contrary to expectations.

ETH remained largely unchanged in price, ticking slightly upwards. Analysts had expected more than $300 million worth of ETH to be liquidated immediately following Shanghai's launch, but it appears that the majority of staked ETH had already been deposited with Ethereum via intermediary staking pools and centralized crypto exchanges, many of which issue staking tokens to customers.