On Wednesday, April 12, 2023 at 6:30 PM Eastern Time, the Ethereum chapera upgrade was successful, allowing validators to withdraw staked ether. According to the data, more than 860,000 ether is poised to be unlocked, and 77,000 ether is expected to be withdrawn on Thursday. Ether prices have surged, rising 6% against the US dollar in the past 24 hours.
Staked ether can now be withdrawn following the network’s Chapera upgrade
Ethereum received a major update on April 12 when the Shapella hard fork was launched, allowing verifiers to access staked coins. This is the first major development for Ethereum since the “merge,” the transition from proof-of-work (PoW) to proof-of-stake (PoS). The hard fork officially went into effect on Wednesday at Epoch 194,048 or 6:30 PM ET.
After the upgrade, many validators are preparing to withdraw their bets ether. However,etherwithdrawal limits include a daily limit and a waiting list of validators. Withdrawals come in two forms: one for reward withdrawals and one for validator withdrawals requiring 32 ether.
860,000 ether-$1.71 billion worth at the current exchange rate, awaiting withdrawal. Currently, 17.46 million ether, worth over $34 billion, is locked up for staking. The annual percentage rate (APR) for betting ether is 5.06%.
Despite the upgrade, ethereum network transaction fees have remained relatively stable. On Thursday, the average transaction fee is about0.0029 ETHor $5.72 per transfer, with the median fee hovering around0.0013 ETHor $2.66 per transfer. On Thursday,Ethereum (ETH)rose above $2k per unit, reflecting a 6% increase over the past 24 hours. Additionally,the dominance of ETHhas grown to account for 19.3% of the total crypto economy, with a market capitalization of over $241 billion.
What do you think the success of the Chapera hard fork means for the future of Ethereum and the broader cryptocurrency market? Share your thoughts and predictions in the comments section below.
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