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Ethereum's Shanghai upgrade has been successfully activated

Yesterday, April 12, the long-awaited Ethereum Shanghai hard fork was successfully carried out.

By Luc Vesters
• 2 min read
Ethereum's Shanghai upgrade has been successfully activated

Yesterday, April 12, the long-awaited Ethereum Shanghai hard fork was successfully carried out with success. This gave investors for the first time since 2020 access to about $37 billion worth of ETH staked.

In the crypto industry feared many investors would face heavy selling pressure from the released ethers. The ETH price, however, remained largely unchanged at the time of the fork. At the time of writing, Ethereum was trading at $1,915 and had risen nearly 3 percent over the past 24 hours.

In a livestream, Ethereum founder Vitalik Buterin said: "We are in a phase where the hardest and fastest parts of the transition of the Ethereum protocol are behind us." After Shanghai, the Ethereum Foundation is now focused on implementing faster and cheaper transactions, according to Buterin. Further optimizations of the Ethereum Virtual Machine (EVM) and Layer 2 platforms (EIP-4844) are expected to follow later this year.

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