Breaking: Ethereum Shanghai Upgrade Live On Sepolia For ETH Withdrawals
Ethereum Shapella (Shanghai/Capella) network is successfully activated on the Sepolia testnet at epoch 56832 at the scheduled 4:04 AM UTC and finalized at 4:17 AM UTC on February 28. It enables validators to withdraw their stake from the Beacon Chain back to the execution layer and introduces new functions to the execution and consensus layers.
Ethereum developers and clients shared the news on Twitter announcing the Shapella network is live and finalized on the Sepolia testnet. The next upgrade will be on the Goerli testnet and then on the mainnet, finalizing the Shanghai upgrade.
Ethereum Shanghai upgrade anticipated in March will fully transition Ethereum to proof-of-stake (PoS) and enables the withdrawals of Ethereum staked on the Beacon Chain. The Sepolia is the second of the three testnets planned to trigger the Shanghai upgrade. The first Zhejiang testnet upgrade was successfully completed on February 7.
Ethereum developers Tim Beiko and Parithosh took to Twitter to share the successful Sepolia Shapella upgrade.
Terence.eth, an Ethereum developer working on Arbitrum, revealed that some of the Prsym validators failed to upgrade to new client releases and are offline due to using the old Geth version. However, these validators will come online after a few minutes.
Marek Moraczynski, team lead at Ethereum client Nethermind, also took to Twitter to share the interesting news of successful Sepolia Shapella activation by the Ethereum Foundation developers.
Meanwhile, Ethereum Foundation has announced to shut down the Goerli testnet after the Shanghai upgrade. It will follow with the Holli or Holesovice testnet, expected in September this year.
Ethereum Price After the Shanghai Upgrade on Sepolia Testnet
Ethereum price is currently trading at $1,627, continuing to move in a range above the $1,600 level. The 24-hour low and high are $1,615 and $1,662, respectively. Furthermore, the trading volume has increased by 15% in the last 24 hours, indicating a slight increase in interest.
The ETH price action has lost pace amid the fear of hawkish rhetoric from the U.S. Federal Reserve. The broader crypto market has also continued to be under pressure and is expected to bounce next month.
Also Read: Binance Mints Over $130 Million TrueUSD (TUSD) Stablecoin In A Week
Recent Posts
- 24/7 Cryptocurrency News
ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…
- 24/7 Cryptocurrency News
Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…
- 24/7 Cryptocurrency News
Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…
- 24/7 Cryptocurrency News
Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…
- 24/7 Cryptocurrency News
XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…
- 24/7 Cryptocurrency News
SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…