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Ether’s market performance and derivatives metrics have lagged behind Bitcoin, possibly due to traders’ expectation of heavy sell pressure after the Shapella upgrade. The Ethereum network’s Shapella upgrade, scheduled for around 6:30 pm EST on April 12, has induced significant uncertainty among traders, according to a report by Kaiko.  The upgrade will enable staked-ETH withdrawals from the Beacon Chain for the first time since its launch in December 2020. According to previous estimates, the upgrade will add nearly 1.2 million to 3 million worth of ETH selling pressure in the first few weeks. This is one of the main reasons traders appear to be taking a cautious stance ahead of the upgrade. Kaiko’s report shows that ETH is lagging behind BTC in spot and Futures trading volumes, while options market data shows traders are actively adding short-term hedging positions. Ether displays muted trading data Ethereum market share in USD trading volume compared to Bitcoin declined to Marc...

While it may cause downside pressure in the short run, the Shanghai upgrade will be extremely bullish for Ether's price in the mid-to-long term, according to Vivek Raman. While it may have some short-term negative impact on the price of Ether (ETH), the upcoming Shanghai upgrade will be extremely bullish for Ethereum's native token, as it will attract more capital to staking and increase the network's security, according to Ethereum researcher Vivek Raman.  The Shanghai upgrade , scheduled for April 12, will allow network validators to withdraw funds that have been locked to secure the network since December 2020. The upgrade will complete the network’s transition to a proof-of-stake system, which started last October with the Merge. Around 18 million ETH will be available for withdrawal following Shanghai. According to Raman, that may lead to some selling pressure on ETH's price in the short term. However, in the long run, the ability to unstake Ether will “de-risk...

As Ethereum's Shanghai upgrade approaches next month, one of the network's testnets has successfully upgraded, simulating the slated hard fork. The Ethereum blockchain's Sepolia testnet has undergone a successful upgrade that simulates the upcoming Shanghai hard fork that is expected to take place in March on the network's mainnet. The "Shapella" upgrade, which combines the names of the upcoming Shanghai and Capella hard forks, was successfully implemented on the testnet on Feb. 28. Sepolia testnet has success fully upgrade d to Shapella! Some of the Prsym validators are offline due to the old geth version. They will come online in the next 10 mins! Next stop: Goerli pic.twitter.com/pb43Gq7w9C — terence.eth (@terencechain) February 28, 2023 Shanghai is the fork’s name on the execution layer client side and Capella is the upgrade name on the consensus layer client side. One of the major changes enables validators to withdraw their staked Ether (stETH) from...