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April 14, 2023, 04:47:45 AM |
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Finally, the Shanghai and Capella upgrades of Ethereum, together called Shapella, are now live. It activated on April 12. The fears of many that the price might nosedive following the upgrade, considering that it means those staked ETH could now be withdrawn from the Beacon Chain, are now allayed.
There were worries and debates as to what will happen to the price of ETH as soon as the Beacon Chain withdrawal is activated. Those who worried and believed that a dump will happen are now proven wrong. Not only did the price of ETH remain stable, it rose and even broke $2,000.
Although it helped that there is a daily withdrawal limit to staked ETH, the confidence that Shapella provided to the entire community proved to be a lot stronger.
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