The cryptocurrency exchange Binance will open withdrawals of ETH from staking on April 19, at 5:00 (Kyiv/Moscow time).
#Binance will support $ETH 2.0 Staking withdrawals starting from April 19, 08:00 UTC.
Due to the processing limitations on the $ETH network, ETH withdrawal requests may take up to 15 days to several weeks to be fully processed.
More details here ⤵️https://t.co/L3iyon58lo
— Binance (@binance) April 13, 2023
Users who have ETH locked via the exchange will be able to redeem their coins using the BETH token at a 1:1 ratio. The company added that daily redemption limits will be set for each customer.
“Due to limitations in the Ethereum network, full processing of ETH withdrawal requests may take from 15 days to several weeks,” the platform’s representatives noted.
The announcement came a couple of hours after activation of the Shapella hard fork in the Ethereum mainnet, which occurred at epoch #194 048. The developers noted that, despite a ‘few missed blocks’, the upgrade was broadly successful.
After the hard fork the price of ETH retested the $2000 level. As of writing, the asset is trading near $2004.
ForkLog experts say that, in the long term, the hard fork will lead to a positive price dynamic for Ethereum due to reduced risk for investors.