The Ethereum blockchain recent brought its major update 'Shapella', allowing ETH investors to withdraw their staked Ether. As a result, the annualized rate of return on ETH staking has skyrocketed, reaching 8.76%, which is the highest since the update. As of now, 3.44 million ETH has been deposited into 2.0 contracts, with a net pledged of 770,70k ETH (valued at around $1.41 billion).

Furthermore, the price of Ether has been steadily rising and market analysts are seeing further improvements. Currently, the coin is trading at $1,827.92 with a 1.37% increase in the last 24 hours and an ROI of over 13% this month. Predictions by CoinMarketCap suggest an average price of $1,835.77 by May 31.

The impact of this major update is far-reaching as it not only allows for unlocking billions in ETH but also reduces gas fees for developers, bringing scalability and efficiency to the network. This has been a long-awaited moment for the crypto community, which had gloomy predictions of the Ethereum price dropping to mid-$15,000 range had the downtrend in the market continued.

In conclusion, Shapella has not only allowed withdrawal of ETH but also brought benefits regarding scalability, efficiency and price. This could be a turning point for the Ethereum blockchain and investors as we cannot predict how long will this growt rate last. Always remember to do your own analysis before investing and be aware of the risks associated with cryptocurrency investing.



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