Binance to Support Staked $ETH Withdrawals within 1 Week after Shanghai Upgrade

Binance released a statement regarding the Ethereum Shanghai upgrade, announced the exchange will support withdrawals for staked $ETH within one week after the upgrade completes. Users will be able to redeem $BETH to $ETH on a 1:1 basis at Binance's $ETH staking page.

Binance said that, due to the processing limitations on the Ethereum network, it will set a daily $ETH redemption quota for each user.

Previously, Ethereum core developers confirmed that the Shanghai upgrade will be triggered on the mainnet on April 12th at 10:27pm UTC.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.