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News Explorer — Ethereum Soars Despite Validators Withdrawing Funds Post-Shanghai

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Apr 13, 10:24 am
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Ethereum Soars Despite Validators Withdrawing Funds Post-Shanghai

Ethereum is currently up 6% over the past 24 hours, with liquidation data suggesting that bearish traders were wrong. The successful execution of the Shanghai upgrade allowed Ethereum stakers to withdraw their holdings since December 2020. Validators were not allowed to withdraw from the network prior to Shanghai, leading to speculation that the ability to withdraw funds would cause a bearish impulse. Data from Nansen indicates that many validators have made their exit, but the newly-unlocked Ethereum is not being sold on the open market.

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