The software that underpins the second-biggest crypto coin ether is due for a software upgrade on Wednesday that will give investors access to more than US$30 billion of the digital tokens.
In this photo illustration, a woman's silhouette holds a smartphone with the Ethereum logo in the background. due for a software upgrade on WednesdayKnown as Shapella, the latest upgrade to the Ethereum blockchain will enable investors to redeem an offshoot of ether tokens that they have deposited in return for interest on the blockchain network over the past three years.
The upgrade is due for around 5.30 p.m. ET , according to a tweet by Tim Beiko of the Ethereum Foundation, a body that speaks for the Ethereum network.Some believe that widespread redemptions could lead to a wave of selling, in turn weighing on the price of ether, whose market value of about US$230 billion is topped only by bitcoin.
But ether has continued to lag its larger rival, gaining just under 60 per cent this year versus a more than 80 per cent jump for bitcoin.
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