Returning to Shanghai: Essential Ethereum Updates
Navigating the Ethereum Community's Recent Milestones
Russian DeFi
April 25, 2023
Here's An Ethereum Community Update You Won't Want To Miss.
The Shanghai upgrade, a component of the Ethereum 2.0 roadmap that aims to significantly improve the platform, is now live.
This upgrade will make Ethereum more user-friendly and efficient, including adjustments to the EVM, gas prices, and block sizes.
In this blog post, we will dive into various aspects of the Ethereum community and its recent updates.
Read on 👇️ 🍿
👉 Shanghai Upgrade: Brief Overview
The Shanghai upgrade has several benefits for Ethereum users, including increased efficiency and user-friendliness. For a detailed overview of the upgrade, check out this Decrypt article.
📈 Impact on ETH Price
Although the Shanghai upgrade could lead to a short-term decline in ETH price, the long-term outlook is very favorable, particularly for institutional investors who can now unstake Ether. To learn more about how the Shanghai upgrade may impact ETH price, read this article on Cointelegraph.
💰ETH Investors Can Withdraw their Portion
The Shanghai upgrade will allow all ETH investors to withdraw their portion from the $31 billion stockpile accumulated since 2020. For more information, read this Fortune article.
💻 Impact on Ledger Users
The Shanghai upgrade will not have any significant impact on Ledger users. Users can continue to use their hardware wallet to securely manage their Ethereum-based assets without interruption before, during, and after the upgrade. To learn more, check out this tweet from Ledger.
What is the @ethereum #shanghaiupgrade, and how does it impact Ledger users?
Join our VP Engineering @CRLNDRSN, @superphiz from @ethStaker, @ledger_support and @ernopp from @Kiln_finance tomorrow at 4pm CEST/10am EST on April 11th to delve in:
https://t.co/PR0ta841tA— Ledger (@Ledger)
Apr 10, 2023
🏦 Impact on Staking with Ledger Live
Users can now use Ledger Live to connect the Ledger hardware wallet to a supported staking service, such as Lido or Stakehound, and stake their ETH to earn rewards. For updates, keep a watch on the withdrawal and exit lines at Ledger. For more information, read this tweet from Ledger.
Ethereum’s Shanghai upgrade is on the horizon.
Not sure what the Shanghai upgrade is, or what it means for the ETH you’ve staked via Ledger Live?
🧵Unfurl this thread and we’ll tell you everything you need to know.
— Ledger (@Ledger)
Apr 7, 2023
📉 Views on Short-Term Selling Pressure
The Shanghai upgrade to Ethereum may result in short-term selling pressure on the price of ETH as investors withdraw money. However, as staking becomes less risky, institutions may join the bandwagon. To learn more about this, check out this tweet from Danny.
Ethereum’s Shanghai Upgrade will take place in 2 days and investors can begin to unstake their $31B worth of $ETH about 15% of its supply that will be unlocked.
What impact will this have on Defi and your bags?
Here’s how you can stay prepared for this important event: 🧵⬇️ https://t.co/I8rxp8ionf
— DANNY 🧸 (@DannyCrypt)
Apr 10, 2023
🔓️ Wallet Previously Owned by Ethereum Foundation Unlocked
A wallet previously owned by the Ethereum Foundation and containing 18,112,471 ETH was recently unlocked. Traders and investors should keep a close watch to monitor the situation. For more information, read this tweet from Paulo.
Ethereum Shanghai upgrade in 48 hours
18,112,471 $ETH worth $34B will be unlocked & investors can begin to unstake
Find out what it covers 🧵 https://t.co/r6vRAgbSt0
— Paulo (@TycoonPal)
Apr 10, 2023
🌊 Liquid Staking Derivatives (LSDs)
LSDs offer advantages such as collateral for yield farming but also come with dangers like slashing and reduced yield compared to traditional staking. To learn more, check out this tweet from Hercules DeFi.
The LSD narrative is shaking the DeFi world because of the Eth Shangai Upgrade on April 12.
But a lot of us are not aware of LSDs and their significance.
A thread on Liquid Staking Derivatives for Dummies🧵 https://t.co/Tzqwx2pdcG
— Hercules | DeFi (@Hercules_Defi)
Mar 29, 2023
LSDs are financial derivatives designed to be more sensitive to changes in liquidity than traditional derivatives. To learn more, read this tweet from hoeem.
Liquid Staking Derivatives (LSD) 101.
The shanghai upgrade is around the corner, LSDs are primed to explode.
Here’s your 101 guide to LSDs: 🧵 👇 https://t.co/yxWAWBSMVE
— hoeem (@crypthoem)
Apr 6, 2023
🧑🚀 Polygon Network Upgrade
The Polygon team invites users to learn more about the upcoming network upgrade. This includes technical improvements such as updates to the network's consensus mechanism and improvements to gas efficiency. Stay tuned for more updates. For more information, read this tweet from Polygon Developers.
Get ready for the Shanghai fork.
👉🏾Ethereum’s biggest upgrade since the Merge 👈🏽There are a number of new improvement proposals, so how does it impact the wider ecosystem? 🤷🏻♀️
Learn all about the upgrade 👇🏿
https://t.co/j6pwPtK8sL https://t.co/gRYDxr8nlH— Polygon Developers (@0xPolygonDevs)
Apr 10, 2023