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Hello everyone,
The countdown was over, and the moment finally arrived. The Shanghai upgrade, also known as Shapella, was set to go live on the Ethereum mainnet.
As the clock struck 6:27 a.m. SGT on April 13, a collective hush fell over the crypto world, waiting to see what would happen next. The release of ether worth a staggering US$34.5 billion was going to test the resilience and appetite of investors.
With faster processing and lower fees for transactions, the upgrade was expected to make Ethereum more attractive to developers and more affordable for new users seeking non-financial Web3 services on the Ethereum blockchain.
Moreover, with the potential for greater yields and the promise of innovation from direct and liquid staking solutions, the upgrade was bound to be a game changer.
Shapella has been confirmed as stable by developers, and ETH prices have been surprisingly resilient since the update.
At the time of writing, ETH was up 1.6% and trading at $1,950, inching closer to the eight-month high it hit last week.
With the continued development and and upcoming major upgrade EIP-4844, Ethereum’s promising future may be in the cards.
— Deepti
🤿 THE DEEP DIVE
Ethereum’s Shanghai upgrade: prepare for short-term volatility, prepare for long-term growth
Image credit: Timmy Loen
Building on the technical integration of the Beacon and Ethereum mainnet chains during last year’s Merge, the Shanghai upgrade offers new features to attract investors and developers alike.
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