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 $2,935.55
+1.95%
Coinbase Shanghai upgrade Ethereum Staking
Comments

All Comments

Recommended for you

  • Russian authorities plan to impose heavy fines on cryptocurrency miners operating in residential apartments

    Russian authorities have proposed imposing huge fines on cryptocurrency miners suspected of operating in residential properties. The authorities may also consider revising the Code of Administrative Offenses to hold those who abuse electricity accountable.

  • TheoriqAI Completes $6.2 Million Super-Seed Round of Financing, Led by Hack VC

    On May 14th, TheoriqAI, a modular AI agent infrastructure, announced on X platform that it has completed a $6.2 million Super-Seed round of financing. Hack VC led the investment, with participation from Foresight Ventures, HTX Ventures, Figment Capital, HASH CIB, Inception Capital, Antalpha Ventures, NewTribe Capital, Stateless Ventures, Bitscale Capital, Construct Ventures, Hypersphere, IOSG Ventures, LongHash Ventures, HashKey Capital, SNZ Holding, Chainlink.

  • Basel banking regulator delays crypto asset rules for banks until 2026

    The Basel Committee on Banking Supervision's governing body, the Group of Central Bank Governors and Heads of Supervision (GHOS), has delayed the compliance deadline for new rules on bank crypto assets by one year. The latest date for the project has been changed to January 1, 2026.

  • LayerZero CEO: Up to 100,000 addresses have been recognized as witches

    LayerZero CEO Bryan Pellegrino stated on social media that up to 100,000 addresses have been identified as witches. Previously reported on May 4th, LayerZero officials stated that all witch users were given a chance to self-report within the next 14 days and those who did would receive an expected distribution of 15%.

  • Niobium, a fully homomorphic encryption chip provider, completes $5.5 million seed round of financing, led by Fusion Fund

    Niobium, a custom encryption chip provider specializing in zero-trust computing, has announced the completion of a $5.5 million seed round of financing, led by Fusion Fund, with participation from Morgan Creek Capital, Rev1 Ventures, Ohio Innovation Fund, and Hale Capital. It is reported that Niobium is building a fully homomorphic encryption (FHE) accelerator chip and will commercialize it. The new funds will be used to explore the commercial applications of FHE in industries such as healthcare, finance, and blockchain, and also plan to showcase the solution and launch pilot projects in the fourth quarter of this year.

  • RunPod Completes $20 Million Seed Round of Financing, Led by Intel Capital and Others

    According to distributed GPU cloud computing AI training model project RunPod announced the completion of a $20 million seed round of financing, jointly led by Intel Capital and Dell Technologies Capital, with participation from Julien Chaummond, Nat Friedman, Adam Lewis and others. RunPod uses global distributed GPU cloud computing services to train, deploy, and scale AI models, thereby reducing the workload of developers. According to its official website, RunPad accepts cryptocurrency payments, but reminds users to strongly recommend setting up a crypto.com account as part of the risk management process and conducting any necessary KYC checks in advance.

  • Kaiko data: Bitcoin miners’ income has dropped sharply, and they may sell BTC to maintain operations

    The latest data from cryptocurrency research and analysis company Kaiko shows that miners are facing huge selling pressure as Bitcoin mining revenue and transaction fees decline. Bitcoin miners' income mainly comes from two aspects: mining rewards and transaction fees. However, affected by the halving of Bitcoin rewards in April (block rewards dropped from 6.25 BTC to 3.125 BTC), miners have to sell Bitcoin to pay for costs. Kaiko researchers pointed out in the report that the halving event usually prompts miners to sell BTC because the mining process requires a lot of expenses.

  • Brazil's trading volume reaches $6 billion in 4 months

    According to Kaiko Research, the correlation between Bitcoin (BTC) and stocks is increasing. After reaching a multi-year low of 0.01 in March, the 90-day correlation rose to 0.17 last week. Based on the company's research report on May 13th, the 90-day correlation between Bitcoin and stocks rose to 0.17 in the week of May 5th, higher than the multi-year low of 0.01 in March. The correlation between BTC and risk assets is lower than the high of 0.6 during the bull market.

  • The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days

    The Ethereum developers held their 133rd ACDC conference call. First, they outlined the latest research on Ethereum protocol confirmation rules. Then, they discussed Pectra updates related to EIP-7547 and CFI states, and decided to put them on hold temporarily. They also updated the v1.5.0-alpha.1 specification. Regarding the implementation updates for devnet-0, most teams are making progress, but there are also some unexpected complexities. The goal is to complete devnet within 7-10 days.

  • Cointime精选 ·

    The Future of Ethereum: Use Cases (Part 1)

    In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.

    The Future of Ethereum: Use Cases (Part 1)

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company