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The Critical Date For Ethereum Is Becoming Clear! Will Altcoins Fall?


Crypto currency investors went through quite critical turns in 2022. The events that have happened have made this year special. Ethereum has completed the PoS transition it has been aiming for for years and has escaped the anxious gaze of environmentalists. However, the Ethereum network has also seen deflationary days. The PoS transition, which is in favor of Ethereum in every respect, brought a small problem.

Ethereum News

ETH 2.0, which started at the end of 2020, ensured that a significant amount of Ether was locked out of this contract. The supply in circulation was limited, and the amount of assets in the contract increased every day, as ETH assets in the contract could not be withdrawn. But this will not continue forever. Soon, lock openings will begin, and he is worried that this will lead to a serious sales raid. So what should Ethereum investors know?

On December 1, 2022, Ethereum developers held the 99th Ethereum Development Conference. The Consensus Layer (CL) has come together for the Dec. Chaired by Danny Ryan of the Ethereum Foundation, the CL calls are one of two biweekly series of meetings where Ethereum developers discuss and coordinate changes to the Ethereum protocol. This week, the developers confirmed the decisions taken at last week’s All Core Developers (ACD) call. So, developers, Ethereum been to Shanghai the next upgrade of the stake that ETH withdrawals, then probably upgrade from Shanghai, which will be enabled with a separate proto-danksharding (EIP 4844) they agreed to work separately from studies to enable. The developers also discussed a number of ongoing research issues and initiatives related to Ethereum’s Consensus Layer specifications.

Altcoins May Fall

To kick off the conversation, Danny Ryan echoed the discussion at ACD Call #150, where CL client teams reached a consensus to focus exclusively on staked ETH withdrawals for Shanghai.

“I think the most important thing that has been made clear by the Consensus Layer teams is that they believe that EIP 4844 (staked ETH) is not nearly at the same readiness as withdrawals and that combining them will significantly delay withdrawals. We will not unite them. We will continue to work full throttle on Capella in its current form”.

Capella is the name of the private testnet where core developers test code changes for staked ETH withdrawals. Ethereum developers have agreed to focus on enabling withdrawals in the Shanghai upgrade, separate from their work on EIP-4844, which will probably be implemented in another upgrade after the Shanghai upgrade. The ideal time for Shanghai is next March. The opening of the locks on this date may increase the sales raid on Ethereum and other altcoins naturally. If we do not see significant developments in favor of crypto currencies on the macro-economic side, significant sales may occur in altcoins, especially ETH.

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