{"id":564492,"date":"2023-03-16T14:53:40","date_gmt":"2023-03-16T11:53:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-expects-high-demand-for-eth-unstaking-with-shanghai-upgrade\/"},"modified":"2023-03-16T14:53:40","modified_gmt":"2023-03-16T11:53:40","slug":"coinbase-expects-high-demand-for-eth-unstaking-with-shanghai-upgrade","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-expects-high-demand-for-eth-unstaking-with-shanghai-upgrade\/","title":{"rendered":"# Coinbase expects high demand for ETH unstaking with Shanghai upgrade"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a279b12926f5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a279b12926f5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-expects-high-demand-for-eth-unstaking-with-shanghai-upgrade\/#%E2%80%9D_Coinbase_expects_high_demand_for_ETH_unstaking_with_Shanghai_upgrade_%E2%80%9C\" >&#8221; Coinbase expects high demand for ETH unstaking with Shanghai upgrade &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Coinbase_expects_high_demand_for_ETH_unstaking_with_Shanghai_upgrade_%E2%80%9C\"><\/span>&#8221; Coinbase expects high demand for ETH unstaking with Shanghai upgrade &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMTAwYjE3ODUtMGU0OC00NDNiLWIzNWQtZDg4ZjdkZTVjYzM0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Ether (ETH) stakers who have had their holdings locked up during the Ethereum Merge event might soon have access to \u201cunstaking.\u201c<\/p>\n<p>Coinbase has announced in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase\/status\/1636047283245531141\">tweet<\/a> that unstaking requests on its platform may take the protocol weeks or months to process. According to the tweet, it expects a flood of staking withdrawal requests after the update to the Ethereum network enables the functionality next month. <\/p>\n<p>The Merge\u00a0transitioned Ethereum\u00a0from proof-of-work (PoW) to proof-of-stake (PoS) in September 2022, but stakers\u2019 holdings remained locked up. This merger created a temporary situation where staking providers like Coinbase allow users to stake ETH on its platform \u2014 but not withdraw the funds.<\/p>\n<p>Expected to take place in mid-April, Ethereum\u2019s Shapella upgrade will enable users to withdraw their staked ETH. ETH holders can also stake more without being subject to an indefinite lockup period<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">7\/ We anticipate that demand for unstaking will be high soon after the upgrade and it may take the protocol weeks to months process unstaking requests.<\/p>\n<p>\u2014 Coinbase (@coinbase) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase\/status\/1636047283245531141?ref_src=twsrc%5Etfw\">March 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Coinbase noted that staking requests are processed on-chain, and the firm will only act as a channel to pass unstaked ETH to customers once released by the protocol. <\/p>\n<p>Coinbase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/blog\/ethereums-shapella-upgrade-is-coming-heres-what-you-need-to-know\">explained<\/a>, \u201cUnstaking requests will open to all Coinbase customers at the same time and will be relayed to the Ethereum protocol and queued based on when they are received.\u201d<\/p>\n<p>Once the upgrade is finished, users will be able to make unstaking requests from their Coinbase accounts, which will become available after <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 24 hours. However, customers should anticipate a considerable wait time after submitting the request.<\/p>\n<p>Coinbase cannot give customers an exact timeframe for unstaking because they don\u2019t have control over the process. They have given an estimate based on the time it takes for the Ethereum network to process transactions, but customers should be prepared to wait and be patient.<\/p>\n<p><strong><em>Related: Ethereum price reaches lowest level relative to Bitcoin in 5 months<\/em><\/strong><\/p>\n<p>To account for the inconvenience, Coinbase provides its users a liquid staking option called \u201ccbETH\u201d as a derivative of staked ETH on the platform, letting stakers effectively trade ETH while it is still locked up, with the promise of redeemability at a later date. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-expects-high-demand-for-eth-unstaking-with-shanghai-upgrade\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Coinbase expects high demand for ETH unstaking with Shanghai upgrade &#8220; Ether (ETH) stakers who have had their holdings locked up during the Ethereum Merge event might soon have access to \u201cunstaking.\u201c Coinbase has announced in a tweet that unstaking requests on its platform may take the protocol weeks or months to process. According&#8230;<\/p>\n","protected":false},"author":1,"featured_media":564493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/100b1785-0e48-443b-b35d-d88f7de5cc34.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74891,133582,103657],"class_list":["post-564492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-ethereum","tag-staking","tag-upgrade"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=564492"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/564493"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=564492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=564492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=564492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}