Shapella hard fork executes successfully on Ethereum mainnet

Shapella hard fork has been successfully executed on the Ethereum mainnet blockchain, so now validators can unstake their ETH from the Ethereum’s Proof-of-stake (PoS) Beacon chain.

The most important upgrade in the Ethereum network was completed at 10:27 pm UTC on April 12 at epoch number 194,048. And now in this situation, Ethereum network stakers can easily unstack their ETH from the staking system.

Ethereum blockchain explorer noted that in the starting first hour, post hardfork, Ethereum network saw an unstake of 12,859 Ether & withdrawal of 4,333 ETH. At present, 44% of validators are allowed to withdraw their ETH fully or partially.

ETH price action

Before this important Ethereum network upgrade, Ethereum traders were expecting a big downfall in the price of ETH just after the completion of the hard but it happened opposite to expectations.
At the time of writing this article, the price of ETH is $1914 & this trade price is 2.74% higher over the last 24 hours and the ETH trade price graph is showing that completion of hard fork failed to impact ETH trade price negatively.

Many ETH traders claimed that ETH will not face a big downfall because the majority of the ETH stakers are in profit & they will expect more profit in this situation, only a small percentage of stakers will sell their ETH.

Recently OKX crypto exchange shared a data finding on behalf of a survey among crypto Investors ahead of the Ethereum hard fork.
Survey findings noted that crypto investors were bullish on ETH & 83% of respondents said that they believe ETH price will only surge in the next three months & will hit $5,000.

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