The most-awaited Ethereum Shanghai upgrade now has an official date. During the All Core Developers Execution Layer (ADCE) meeting on Thursday, Ethereum core developers set April 12 as the official date for the Shanghai mainnet upgrade.

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.

The Ethereum Shanghai Upgrade is inching closer to reality as developers announce that the hard fork is undergoing rigorous testing on the Goerli public testnet.

Lido Finance, the largest Ethereum liquid staking platform, on Wednesday announced that Lido staked ETH (stETH) withdrawals will likely be delayed to May after the successful completion of all pending audits of Lido V2 codes.

Ethereum’s official website says Shanghai could go live during the first half of 2023. Some experts believe the upgrade could activate as early as US tax day: April 15.

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The Ethereum ecosystem will continue its ongoing metamorphosis as the highly anticipated Shanghai upgrade draws near. The latest preeminent smart contract blockchain protocol improvement will activate Ether (ETH) withdrawals from Ethereum’s Beacon Chain.

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The Ethereum community may have to wait longer for the Shanghai upgrade after the core developers’ bi-weekly meeting, Execution Layer Meeting 156, ended with a decision to have the hard fork run on the Goerli test network by March 14 and the final deployment somewhere in April.

After the massive crypto market selloff today, whales sold Ethereum in millions to crypto exchanges as Ethereum core developers set the Shanghai upgrade in early April. Core developers and clients also decided the date for the Goerli testnet upgrade.