Ethereum (ETH) has successfully completed its Shanghai hard fork, also known as the Shapella upgrade.
The change to Ethereum makes it easier for users who have staked the cryptocurrency to withdraw their money and validate transactions on the cryptocurrency’s blockchain.
The upgrade is expected to unlock as much as $33 billion U.S. in liquidity on the Ethereum blockchain and is viewed by crypto advocates as a historic milestone.
The Shapella upgrade is the second major change to Ethereum after the cryptocurrency moved to a less energy intensive proof-of-stake operating model last September.
The price of Ethereum rallied in the lead-up to the Shapella upgrade, rising nearly 20% in the last month to just under $2,000 U.S. Ethereum’s price has gained 66% so far this year.
