The interest in $ETH trading comes ahead of Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that are expected to occur simultaneously on April 12. By shauryamalwa.
An upcoming upgrade on the Ethereum network is funneling capital to ether and staking-focused tokens as traders likely expect higher prices for these assets in the future.
The interest in ether trading comes ahead of Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that are expected to occur simultaneously on April 12. Shapella will allow investors to withdraw their ether staked on the Ethereum blockchain – as staked ether cannot be withdrawn or freely traded currently.
“Allowing withdrawals, boosted by the recent popularity of liquid staking platforms, will make ETH staking much more accessible to retail investors who were previously unwilling to stake ETH for an undetermined amount of time,” said Chen Zhuling, CEO at staking service RockX, in a note to CoinDesk. This has culminated in the liquid staking derivatives , a term for tokens issued by such platforms, emerging as one of the strongest investor plays in 2023.
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