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Coinbase expects high demand for ETH unstaking with Shanghai upgrade

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Ether (ETH) stakers who have had their holding locked up during the Ethereum Merge event might soon have access to unstaking.Coinbase has announced in a tweet that unstaking requests on their platform may take the protocol weeks to months to process.

According to the tweet, they expect a flood of staking withdrawal requests after the update in the Ethereum network enable the functionality next month.

The Ethereum Merge, transitioned the network from proof-of-work (PoW) to proof-of-stake (PoS) in September 2022, but stakers’ holdings remained locked up.

This merger created a temporary situation in which staking providers like Coinbase allow users to stake ETH on their platform – but not to withdraw them.Expected to arrive in mid-April, Ethereum's Shapella upgrade will enable users to withdraw their staked ETH, or "unstake" it.

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