What is Ethereum update?

Update, scheduled for March, will free up tokens accounting for approximately 14% of ether supply. Ethereum developers and users are gearing up for the first major upgrade following the Merge, which marked the blockchain’s transition to near-carbon neutrality.

What happened to Ethereum's price?

Despite these concerns, Ethereum’s price exceeded $2,000 for the first time since May 2022, the day after the upgrade. Since the upgrade executed, Ethereum has risen 10%, and leading liquid staking protocols Lido and Rocketpool had their native tokens increase 13% and 22% respectively.

How does ether work on Ethereum?

At least 75% of staked ether on Ethereum is controlled by an intermediary, such as an exchange, like Coinbase or Kraken, or a special platform, like Lido or Rocketpool, according to Galaxy Digital, which means that the vast majority of stakers will not be able to directly initiate their own withdrawals.

When did Ethereum merge?

Though the Merge occurred in 2022, Ethereum users began staking ether as far back as December 2020 to access the validator software with the knowledge that the staked assets and any accrued rewards would remain locked up until a subsequent update to the blockchain.