The long-awaited Shanghai upgrade has been deployed, and the blockchain’s native cryptocurrency, ether (ETH), remains essentially intact following the historic event.
As validators unstaked tokens that had previously been locked up since Ethereum switched to proof-of-stake last year.
Ether is trading around $1,914 – around where it was before the upgrade. ETH is up 1.1% in the last 24 hours.
However, more pessimistic projections predict that due to differing partial withdrawal regulations, up to 1.54 million ETH could be withdrawn quickly after the upgrade. According to other estimates, the upgrading resulted in $5 billion in unrealised losses.
