Cointime

Cointime

Download App
iOS & Android

Coinbase Expects High Demand for ETH Unstaking With Shanghai Upgrade

Cointime Official

Ethereum’s Shapella Upgrade is almost here. The upgrade will enable unstaking for the first time since ETH staking was introduced in December 2020.

The Ethereum Merge transitioned the network from proof-of-work (PoW) to proof-of-stake (PoS) in September of 2022, making it more secure, energy-efficient, and better for implementing new scaling solutions. However, users were not yet able to unstake their ETH.

The upcoming Shanghai and Capella Upgrades, collectively known as Shapella, will enable unstaking plus will give users the flexibility to stake more without their ETH being indefinitely locked up.

There’s no need to unstake – Users can continue staking their ETH and earning up to 6.0% APY. No action is required and users' assets will be safe and secure during the upgrade.

According to Coinbase, if users would like to unstake, the exchange will begin taking unstaking requests about 24 hours after the upgrade completes. All unstaking requests are processed on-chain, and Coinbase will pass the unstaked funds and staking rewards to users once released by the Ethereum protocol.

Since the Ethereum protocol controls the unstaking process and Coinbase is simply the conduit, the exchange can’t share an exact waiting period when users request to unstake.

Coinbase anticipate that demand for unstaking will be high soon after the upgrade and it may take the protocol weeks to months process unstaking requests.

To learn more about Shanghai Upgrade, check these articles with Cointime：

What Is the Ethereum Shanghai Upgrade, and How Will It Affect Me?

Ethereum Shanghai Upgrade: Revving Up Staking Rewards

Ethereum Shanghai Hard Fork: Everything You Need to Know in 3 Minutes

Market Byte: Ethereum’s Shanghai Update & Liquid Staking Derivatives

Ethereum Ethereum $2,687.04
+0.31%
Coinbase Shanghai upgrade Ethereum Staking
Comments

All Comments

Recommended for you

  • SEC and CFTC Update Crypto FAQs: Token Buybacks and Network Upgrades Not Necessarily Securities, CFTC Allows On-Chain Record Keeping

    On September 26, the U.S. Securities and Exchange Commission's Division of Corporation Finance released an updated FAQ on September 25, clarifying that token buybacks, network upgrades, and marketing statements do not automatically make crypto assets securities. SEC staff noted that announcing a buyback plan for an operational crypto network does not, by itself, make the associated tokens investment contracts; however, if the network is not operational and the issuer promotes the buyback as a source of returns for holders, it may be a different case. The FAQ also clarified that services provided once a crypto system is operational, aimed at securing, maintaining, improving, or enhancing the system or its functions, or promoting network effects, do not constitute managerial efforts under the Howey test. Marketing existing uses of the network typically does not create profit expectations, and statements about future functionalities do not either, provided there is no promotion of profit potential. This update reiterates that conclusions will still heavily depend on specific cases and are based on the SEC's interpretative release regarding the applicability of securities laws to crypto assets issued in March this year. On the same day, the Commodity Futures Trading Commission updated its crypto FAQ, allowing futures firms and clearinghouses to invest customer funds in tokenized versions of previously permitted assets, provided they meet investment and custody requirements. CFTC staff also indicated that regulated companies may use blockchain for record keeping but must still be able to provide records if the blockchain or its block explorer is non-operational. These updates come as the CLARITY Act failed to advance in the Senate, with regulators continuing to push forward with the crypto regulatory framework based on existing laws.

  • BTC Surpasses $84,000

    Market data shows that BTC has surpassed $84,000, currently priced at $84,004, with a 24-hour decline of 0.25%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Falls Below $84,000

    Market data shows that BTC has fallen below $84,000, currently priced at $83,988.06, with a 24-hour increase of 0.52%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Falls Below $2700

    Market data shows that ETH has fallen below $2700, currently priced at $2699.7, with a 24-hour increase of 1.95%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $85,000

    Market data shows that BTC has surpassed $85,000, currently priced at $85,000.02, with a 24-hour increase of 1.72%. The market is highly volatile, so please ensure proper risk management.

  • ETH Surpasses $2700

    Market data shows that ETH has surpassed $2700, currently priced at $2700.14, with a 24-hour increase of 1.23%. The market is experiencing significant fluctuations, so please ensure proper risk management.

  • Yushu Technology's Wang Xingxing: Key to Breakthrough in Embodied Intelligence Lies in Solving Millimeter-Level Error Issues

    On September 25, the 5th Global Digital Trade Expo was held in Hangzhou, where Wang Xingxing, founder of Yushu Technology, delivered a keynote speech titled "From Machinery to Intelligence - The Evolutionary Theory of Embodied Future." Wang stated that the embodied intelligence industry may soon experience a critical breakthrough similar to that of ChatGPT. He believes that when robots can complete approximately 80% of tasks through voice interaction and embodied intelligence capabilities in about 80% of unfamiliar environments, the industry will enter a critical phase of large-scale application. He pointed out that the ability for robots to understand and execute specific tasks based on voice commands has already made breakthroughs last year, but the industry still faces a core technological bottleneck, namely the precise matching issue between artificial intelligence models and the real physical world. Wang noted that currently, robots still have a few millimeters of error during actual operations, which limits their stability and reliability in complex environments. "In the future, whoever can solve this problem will fundamentally resolve the issues with robots."

  • Swissquote Analyst Warns AI Narrative is a Core Pillar of US Stocks, Potential Break Could Trigger Significant Correction

    On September 25, Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that broad market indices and retirement funds are now deeply tied to the AI wave, with technology stocks accounting for about 40% of the S&P 500 index. She pointed out that the market capitalization weight of just three chip manufacturers makes up over 25% of the MSCI Emerging Markets Index. Ozkardeskaya indicated that AI has become the 'core pillar' of the market, and this pillar 'must not show any cracks.' She believes that, in the short term, the US stock market will continue to be supported by seasonal factors, and the current market uptrend may extend until the end of the year. However, she also warned that the worst-case scenario would be a shake in the investment logic surrounding AI, which could undermine market confidence in the AI narrative, potentially triggering a significant market correction.

  • U.S. Stock Index Futures Turn Positive; Chip Stocks Rally in After-Hours Trading

    On September 25, U.S. stock index futures rose into positive territory, with Nasdaq futures up 0.36%. In after-hours trading, storage and semiconductor stocks saw widespread gains, with AMD, Intel, and SanDisk all rising by 2%.

  • NEAR Partners with Ondo to Launch 20 Tokenized US Stocks and ETFs

    On September 25, according to Cryptonews, NEAR Protocol and Ondo Finance have launched trading for tokenized US stocks and ETFs on near.com, with an initial offering of 20 assets including Nvidia, Tesla, Apple, Microsoft, Amazon, as well as SPY and QQQ. Eligible users can deposit using over 30 supported stablecoins or other crypto assets, with NEAR Intents serving as the cross-chain distribution layer, allowing similar assets to be routed to connected wallets and DeFi protocols in the future. Purchases are settled in USDon, which is backed 1:1 by US dollars in brokerage accounts, and completed via atomic swaps. This product is not available to US persons; the overall Ondo platform has launched over 100 assets, with NEAR initially offering only one-fifth of that.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company