Ethereum unlock in March worth tens of billions of dollars
The enormity of the unlock can’t be overstated with only five crypto assets having a larger market cap than its $21 billion tranche.
Cryptocurrency news by Protos · Protos
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Show Notes
A massive tranche of ether (ETH) is unlocking soon. During a meeting on December 8, Ethereum developers decided to make staked ETH on Ethereum’s Beacon Chain available for withdrawal with the Shanghai update as early as March 2023. The meeting was ratified last week.
The Beacon Chain holds $21 billion (over 15.9 million ETH) staked within Ethereum’s Proof-of-Stake system. Additional ETH is voluntarily staked into the Beacon Chain daily and cannot be withdrawn until Shanghai activates. So, by the time March arrives, the Beacon Chain will far exceed 16 million ETH.
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