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 $2,541.40
+3.13%
Coinbase Shanghai upgrade Ethereum Staking
Comments

All Comments

Recommended for you

  • BTC Falls Below $78,000

    Market data shows that BTC has fallen below $78,000, currently priced at $77,993.28, with a 24-hour increase of 1.09%. The market is experiencing significant volatility, so please ensure proper risk management.

  • U.S. Storage Stocks Weaken, SanDisk and Seagate Drop Over 4%

    On September 11, U.S. storage stocks weakened, with SanDisk and Seagate dropping over 4%. Western Digital fell by more than 2%, while Micron Technology and SK Hynix saw declines of less than 1%.

  • US Crypto Stocks Surge, Strategy Up 5.71%

    On September 11, during intraday trading, US crypto-related stocks saw widespread gains, with Strategy (MSTR) rising 5.71%; Coinbase (COIN) up 5.34%; Circle (CRCL) increasing by 5.23%; SharpLink Gaming (SBET) climbing 10.32%; MARA Holdings (MARA) up 6.69%; and BitMine Immersion (BMNR) rising 9.01%.

  • Grayscale: Zcash Mining Profits 2-4 Times Higher than Bitcoin with Hashrate Growth Exceeding 2.5 Times This Year

    According to Grayscale's research director Zach Pandl, Zcash mining profits have surged significantly due to the strong performance of ZEC prices. Data shows that the total daily miner rewards on the Bitcoin network are approximately $35 million, while for Zcash, it is about $2 million. However, the daily earnings per mining machine for Zcash are about twice that of Bitcoin, with earnings per megawatt-hour being approximately four times higher, even surpassing some AI/high-performance computing cloud services. The high profits have driven an increase in mining activities, with Zcash's total hashrate growing over 2.5 times this year, creating a virtuous cycle of 'rising coin prices → increased mining → enhanced network security → supporting coin prices.' The calculations are based on an electricity price of $0.05 per kilowatt-hour and the Bitmain Z15 Pro mining machine operating at full capacity, with data as of September 9.

  • ETH Surpasses $2600

    Market data shows that ETH has surpassed $2600, currently priced at $2601.32, with a 24-hour increase of 7.27%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $79,100

    Market data shows that BTC has surpassed $79,100, currently priced at $79,150, with a 24-hour increase of 2.53%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $79,000

    Market data shows that BTC has surpassed $79,000, currently priced at $79,012, with a 24-hour increase of 2.37%. Due to significant market fluctuations, please ensure proper risk management.

  • U.S. Optical Communication Stocks Surge, Coherent Rises Over 3%

    On September 11, U.S. optical communication stocks collectively surged, with Viavi Solutions, Amphenol, Coherent, AXT Inc, and Lumen Technologies rising over 3%. Additionally, Qioptiq, Applied Optoelectronics, and Ciena increased by more than 2%, while MaxLinear and Corning saw gains of over 1%.

  • Canadian MP Urges Trump: Relax Tariffs to Help U.S. Combat Inflation with Canadian Oil and Minerals

    On September 11, Pierre Poilievre, leader of the Conservative Party of Canada, stated that Canada possesses abundant oil and mineral resources that could help alleviate inflationary pressures in the United States, but the Trump administration needs to relax its tariff policies against Canada. Poilievre strongly promoted Canada's 'affordable energy' and mentioned that he has discussed establishing a 'strategic mineral and oil national reserve' with Canadian Prime Minister Mark Carney for allies to use in times of need. Poilievre said, 'By strengthening trade with Canada, we can lower your cost of living. We can ensure that in the event of future conflicts—hopefully never occurring—we have ample supplies while also restoring the industrial base across the North American continent. But this must be achieved through cooperation.'

  • Iran's Foreign Ministry: Regional Meeting of Gulf Countries Scheduled for Next Monday

    On September 11, Iranian Foreign Ministry spokesman Baghaei announced plans for a regional meeting involving Gulf coastal countries. This meeting represents a significant development, with hopes that it will enhance mutual understanding among regional nations and contribute to strengthening regional security. Iran, Iraq, and other Gulf coastal countries will participate in this meeting, which will take place next Monday in Oman. In addition to other regional issues, the participants will discuss the outcomes of negotiations between Iran and Oman regarding the establishment of a safe commercial shipping corridor in the Strait of Hormuz. The Iranian Foreign Ministry spokesman also mentioned a previous agreement between Iran and Oman on a temporary shipping corridor in the Strait of Hormuz, emphasizing Iran's commitment to taking action to ensure the safety of shipping in the Strait. However, he stated that as long as the U.S. acts aggressively and interferes illegally, including through maritime blockades and economic warfare, the safety of shipping in the Strait of Hormuz cannot be guaranteed.

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