Ethereum developers to test Shanghai update in February

Ethereum hard fork called Shanghai will be exclusively designed to release locked ETH in staking. The developers will launch the testnet with this update in February. On the Ethereum mainnet, the Shanghai update is expected to be activated in March this year.. Users will be able to access their ETH, which they used to stake before the second cryptocurrency network switched to the Proof-of-Stake algorithm. In order for the update to be successful, the testnet with the Shanghai update will be launched by the end of February.. The developers have postponed the integration of the Ethereum Virtual Machine Object Format (EOF) format into the Ethereum virtual machine (EVM). This could delay the launch of Shanghai. Thus, the hard fork will be solely for unlocking staking coins. It should be noted that now more than 15 million ETH are blocked in Beacon Chain staking – this is about 12.9% of the total amount of ether. At the same time, some analysts fear that unlocking such a significant amount of coins could lead to a collapse in the price of ETH if users decide to sell assets. Earlier, Chinese crypto journalist Colin Wu said that some large investors expect the price of ether to drop to $400.