Ethereum Staking Momentum Grows
The Ethereum staking narrative has been gaining momentum recently. Liquid staking platforms will benefit when the Shanghai upgrade is deployed, but centralized exchanges could also get a boost.
According to JP Morgan analysts, the March-slated Ethereum Shanghai upgrade could be a big deal for exchanges such as Coinbase.
The upgrade will implement EIP (Ethereum Improvement Proposal) 4895. This enables Beacon Chain withdrawals, releasing staked ETH for the first time since December 2020.
“Staking in Ethereum forced holders to lock up their Ether indefinitely, which we have viewed as a big disincentive to stake ETH historically,” the researchers wrote.