Ethereum [ETH] nosedives as Shanghai Upgrade gets pushed to April

The test on Goerli will be the last dress rehearsal for the upcoming Shanghai Upgrade. ETH recorded a steep fall on the news of the postponement at press time. 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 […]

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.

One of the developers suggested an earlier date for the Goerli launch as it will allow more time between Goerli and the mainnet launch. There was a proposal to have Goerli launch on 16 March but it was dropped in favor of 14 March so as to have enough time to analyze and discuss the outcomes on the next core developers call which would fall on 16 March.

The test on Goerli will be the last dress rehearsal for the upcoming Shanghai Upgrade. According to the developers, the Sepolia testnet launch went smoothly barring a few infrastructure-level issues.As per data from Glassnode, the overall staking activity on Ethereum saw decent growth over the previous week. At the time of writing, nearly 17.5 million ETH was locked in the network’s smart contracts, representing a week-over-week growth of 3%.

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