Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

[Gunnar Larson]

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade
https://www.bloomberg.com/news/articles/2023-04-07/why-crypto-is-watching-ethereum-eth-blockchain-shanghai-upgrade


The Ethereum network is set to undergo a technical revamp on April 12 that
will allow users to withdraw tens of billions of dollars of its native
token, Ether. Known as the “Shanghai” upgrade, it’s a necessary step after
the world’s most commercially important crypto platform shifted to a less
power-hungry process for ordering transactions. Investors burned by recent
turmoil in crypto markets will be wondering if, presented with their first
opportunity to withdraw their tokens, some Ether holders will run for the
hills.
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