BREAKING: The Ethereum Shanghai upgrade has been activated, and the blockchain is processing staked ETH withdrawals, cryptauxmargaux reports. Shapella
“During the first few epochs, there most likely won’t be any partial withdrawals, as the first few hundred validators are all 0x00,” said Barnabas Busa, a DevOps Engineer at the Ethereum Foundation. This is because those are genesis validators who joined the network when the Beacon Chain went live, and thus have the old withdrawal credential set.
Full withdrawals don’t happen automatically, so those validators that want to exit have to send a message to the blockchain to get added to the queue. Market analysts have feared that the unlocking of ETH deposited into the Beacon Chain might start a rush by stakers to liquidate their tokens.
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