Cryptocurrency exchange Kraken has an answer for users about being able to unstaking their ETH tokens after The Merge.

With the Kraken Pro app, customers may stake and unstake their Bitcoin assets. However, as the crypto exchange’s support notified its users on September 15, ETH unstaking appears to be inaccessible until the announced Shanghai update to the Ethereum network.

Furthermore, the support team stated that the Ethereum Foundation expected the Shanghai upgrade to occur 6-12 months after The Merge.

Because this significant update did not include all of the anticipated functionality, including the ability to withdraw staked ETH, the Shanghai upgrade is scheduled to be given after The Merge. Additionally, the forthcoming Shanghai update will allow for staking withdrawals. Staked ETH and staking payouts are still locked and cannot be withdrawn, despite the fact that withdrawals are planned for the impending Shanghai update.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Kraken Doesn’t Give ETH Unstaking Until The Shanghai Upgrade

Cryptocurrency exchange Kraken has an answer for users about being able to unstaking their ETH tokens after The Merge.

With the Kraken Pro app, customers may stake and unstake their Bitcoin assets. However, as the crypto exchange’s support notified its users on September 15, ETH unstaking appears to be inaccessible until the announced Shanghai update to the Ethereum network.

Hey Triumph ????

Unstaking of already-staked ETH tokens has been halted until the forthcoming Shanghai upgrade which the Ethereum Foundation expects will take place 6-12 months following The Merge.

For more info ???? https://t.co/HGYwMt9N63

Best,
Kraken Support ????

— Kraken Support (@krakensupport) September 15, 2022

Furthermore, the support team stated that the Ethereum Foundation expected the Shanghai upgrade to occur 6-12 months after The Merge.

Because this significant update did not include all of the anticipated functionality, including the ability to withdraw staked ETH, the Shanghai upgrade is scheduled to be given after The Merge. Additionally, the forthcoming Shanghai update will allow for staking withdrawals. Staked ETH and staking payouts are still locked and cannot be withdrawn, despite the fact that withdrawals are planned for the impending Shanghai update.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

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