On September 15, the Ethereum blockchain’s mega-upgrade finally went live. It now becomes a less energy-intensive proof of stake (PoS) system with hardly a hiccup. Anticipation of the event had seen ether rise around 85 per cent from its June doldrums. However, it has since sunk 19 per cent, hitting along with Bitcoin and other risky assets by investor angst over central-bank policy and inflation.

However, many market players remain bullish about the long-term prospects of Ethereum and its native cryptocurrency. Some crypto investors are now focusing towards the next event that could shake up prices.
The next major upgrade for Ethereum is the ‘Shanghai’, aimed at reducing its high transaction costs. It would, inter alia, allow validators or depositors to withdraw their staked coins, to hold or sell.

As per media reports, over USD 20 billion of ether deposits are currently locked up. The staked ether crypto coin is trading at nearly parity with ether at 0.989 ether.

Released in 2015, Ethereum is a decentralized, open-source blockchain with smart contract functionality. It is second only to Bitcoin in market capitalisation