Ethereum prepares for software update to unlock $33B

Investors investing in Ethereum will be able to withdraw the $33.7 billion Ethereum market value, which they have kept as a deposit in their wallets and locked in the network over the past three years, with a software update called Shapella, scheduled for this week on the Ethereum blockchain.

After the said update, Ethereum staked in return since 2020 will no longer be locked in the blockchain.

About 15 percent of Ethereum is locked in these wallets to support the operations of the cryptocurrency chain, with a market cap of $33.73 billion.

The locking process, called staking, is a reward cryptocurrency earned at certain rates over time in return for the amount held.

On the other hand, Ethereum price has gained more than 3% in the last 24 hours, reaching the level of $ 1,920. Its market value exceeded $231 billion.

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