Coinbase Enables Cancellation of ETH Staking

03/16/2023 18:40 • Tech Trends • 101 views

According to reports, Coinbase stated on Twitter that around 24 hours after Shanghai Capella upgraded to the Ethereum network, Coinbase will begin accepting requests to cancel the pledge, which will allow users to cancel the pledge of ETH. However, this does not mean that users will be able to immediately cancel the pledge of their ETH. Because Coinbase said, “The Ethereum agreement controls the process of canceling the pledge, and we are just pipelines. We cannot share the exact waiting time when you request to cancel the pledge.” Coinbase currently provides a 6.0% mortgage ETH annual return.

Coinbase: The request for cancellation of pledge will begin to be accepted 24 hours after the Shanghai Capella update

Analysis based on this information:

Coinbase has announced on Twitter that it will start accepting requests to cancel Ethereum pledges. The announcement comes after the Ethereum network was upgraded and users of Shanghai Capella were also given the ability to cancel their pledges. The move is likely to be welcomed by ETH holders who have pledged their tokens but may require liquidity for other purposes.

However, Coinbase has emphasized that it cannot provide any specific timeline for the process of cancelling ETH pledges. The Ethereum agreement dictates the process and Coinbase is only a pipeline that facilitates the transaction. Therefore, users will have to wait for the blockchain to pass their request for cancellation before they can expect any action.

This move by Coinbase is significant in that it indicates the possibility of greater flexibility for users who may need to access their pledged ETH. The ability to pledge ETH is a crucial feature of the Ethereum network, as it is used for staking and is necessary for mining new blocks. But it also means that users are unable to access their coins until their pledge period has ended.

The fact that Coinbase is offering an annual return of 6% on mortgage ETH is also noteworthy. This provides an attractive incentive for users to pledge their tokens and receive a passive income. However, the rate of return is not guaranteed, and the market volatility can impact earnings.

Overall, Coinbase’s move to enable the cancellation of ETH pledges demonstrates the platform’s responsiveness to the changing needs of its users. It also highlights the potential for increased flexibility in the overall cryptocurrency landscape, as providers seek to meet the demands of a growing market.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/16/coinbase-enables-cancellation-of-eth-staking/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Coinbase Enables Cancellation of ETH Staking

Coinbase: The request for cancellation of pledge will begin to be accepted 24 hours after the Shanghai Capella update

Recommended articles