What Is the Shanghai Upgrade?

The next stage in Ethereum’s roadmap is the first of two major events this year, aside from sharding that will take place later in the year. The Ethereum Shanghai Upgrade is the biggest Ethereum upgrade since The Merge. It will finally allow ETH stakers to unstake and withdraw ETH rewards from the network.

The Shanghai Upgrade is slated to take place in April 2023. The upgrade has five different aspects to it, but what is of the greatest importance is that users will be able to withdraw their staked ETH for the first time. Many of these users will be withdrawing their ETH after two years since the staking market began.

The upgrade is raising many questions like what this means for investors moving forward and what will be the impact of this upgrade on the price of ETH.

But before diving deeper into these questions, let’s touch on some basics!

It all started with the concept of liquid staking - which has rapidly risen to become one of the most important sectors in crypto, standing in second place by total value locked (TVL) after decentralized exchanges.

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