The Ethereum network has seen a busy week with numerous exciting developments. Firstly, the ENS DAO has been given the green light to sell 10,000 ETH to fund its operating expenses for the next two years. The exchange took place on February 9th through CoWSwap and was completed successfully. The Ethereum testnet has also processed its first ETH staking withdrawals, with the Zhejiang testnet executing partial and full withdrawals, as well as changes to BLS, without any issues.
On February 8th, the Ethereum network hit a new milestone with the number of non-zero addresses exceeding 94 million and the number of ETH 2.0 staking addresses surpassing 527,000. This was reflected in the weekly median price of Gas, which reached its highest point in the past six months at 28.15 gwei. JPMorgan has indicated that the upcoming Shanghai upgrade, scheduled for mid-March, will raise the blockchain's staking ratio in the medium term. The bank stated that there is ample potential for the 14% ratio to grow, given that the average for other proof-of-stake (PoS) networks is about four times higher.
The Ethereum Foundation has announced that the Shapella (Shanghai+Capella) mainnet upgrade is progressing towards its final stages, with the public testnets being activated. The Zhejiang testnet is now live, and the first of the well-established public testnets, Sepolia, is slated to undergo the upgrade on February 28th. Shapella boasts a range of features, including full withdrawals for exited validators and partial withdrawals for active validator balances that exceed 32 ETH.
There have been speculations that the Shanghai upgrade may be postponed until Q2, but Tim Beiko from the Ethereum Foundation has stated that the timeline depends on the success of the testnet fork. If all goes well, a second testnet is expected to be launched in mid-March, followed by the mainnet for the Shanghai upgrade in late March/early April.
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[1/5] Weekly Summary: Ethereum [$ETH$]
The Ethereum network has seen a busy week with numerous exciting developments. Firstly, the ENS DAO has been given the green light to sell 10,000 ETH to fund its operating expenses for the next two years. The exchange took place on February 9th through CoWSwap and was completed successfully. The Ethereum testnet has also processed its first ETH staking withdrawals, with the Zhejiang testnet executing partial and full withdrawals, as well as changes to BLS, without any issues.
On February 8th, the Ethereum network hit a new milestone with the number of non-zero addresses exceeding 94 million and the number of ETH 2.0 staking addresses surpassing 527,000. This was reflected in the weekly median price of Gas, which reached its highest point in the past six months at 28.15 gwei. JPMorgan has indicated that the upcoming Shanghai upgrade, scheduled for mid-March, will raise the blockchain's staking ratio in the medium term. The bank stated that there is ample potential for the 14% ratio to grow, given that the average for other proof-of-stake (PoS) networks is about four times higher.
The Ethereum Foundation has announced that the Shapella (Shanghai+Capella) mainnet upgrade is progressing towards its final stages, with the public testnets being activated. The Zhejiang testnet is now live, and the first of the well-established public testnets, Sepolia, is slated to undergo the upgrade on February 28th. Shapella boasts a range of features, including full withdrawals for exited validators and partial withdrawals for active validator balances that exceed 32 ETH.
There have been speculations that the Shanghai upgrade may be postponed until Q2, but Tim Beiko from the Ethereum Foundation has stated that the timeline depends on the success of the testnet fork. If all goes well, a second testnet is expected to be launched in mid-March, followed by the mainnet for the Shanghai upgrade in late March/early April.