Ethereum’s “Shanghai” Upgrade Set for April, Expected to Boost Revenue for Coinbase

03/03/2023 00:03 • Crypto & Markets • 71 views

It is reported that the developers of Ethereum confirmed in the conference call held on Thursday (March 2) that the “Shanghai” upgrade will be carried out in the first two weeks of April this year, and this upgrade will allow users to withdraw the pledged ETH. According to the data of Dune Analytics, at present, the ETH pledged by Lido, Coinbase, Karken and Coin has accounted for 56% of the total pledged amount. JPMorgan analysts believe that the upgrading of “Shanghai” will bring “a new era” to the troubled Coinbase. The ETH pledge is expected to bring $225 million to $545 million in revenue for Coinbase every year. （decrypt）

Core developers of Ethereum confirmed that the “Shanghai” upgrade will be carried out in the first two weeks of April, or will bring about US $500 million in revenue to Coinbase

Interpretation of the news:

Developers of Ethereum have confirmed that the “Shanghai” upgrade will take place in the first two weeks of April this year. The upgrade will enable users to withdraw their pledged ETH. Currently, ETH pledged by Lido, Coinbase, Karken, and Coin account for 56% of the total pledged amount. The JPMorgan analysts believe that the “Shanghai” upgrade will bring a “new era” to Coinbase, which has been facing troubles. It is expected that the pledge of ETH will bring in $225 million to $545 million in revenue for Coinbase annually.

The “Shanghai” upgrade is a highly anticipated event in the Ethereum community, which will enable users to withdraw their pledged ETH. This move will increase liquidity within the platform, which will make it easier for users to access their assets. The upgrade is also expected to address the scalability issue that Ethereum has been facing for a while. This will enable the platform to process more transactions per second, making it more viable as a mainstream payment option.

One of the main beneficiaries of the “Shanghai” upgrade will be Coinbase. The company has been struggling with a decline in its trading fee revenue due to a decrease in trading volumes. The pledge of ETH will provide Coinbase with an additional revenue stream that will help it overcome its financial challenges. It is expected that the upgrade will bring in $225 million to $545 million in revenue for Coinbase annually.

Overall, the “Shanghai” upgrade is a significant step towards making Ethereum more efficient and convenient for users. This will make it easier for users to access their assets and increase the platform’s adoption. Coinbase’s revenue boost is a welcome development for the company, which has been struggling lately. If the upgrade brings in the expected revenue, it will help Coinbase regain its position as a leading cryptocurrency exchange.

In conclusion, Ethereum’s “Shanghai” upgrade is expected to bring many positive changes to the platform and its users. It will make the platform more efficient and improve its scalability, making it more viable as a mainstream payment option. The expected revenue boost for Coinbase is a welcome development for the company and could be a turning point for its financial fortunes. The future looks bright for both Ethereum and Coinbase with the “Shanghai” upgrade.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/4723.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.