ETH has dropped 4.8% in the past 24 hours, from roughly $1,621 to $1,548. The cryptocurrency is also the only asset in the top ten to post negative returns over the last week.
The news comes as ETH remains set for a formal upgrade, dubbed Shanghai.
This update will allow users to withdraw their staked ETH for the first time, and is on track for a March delivery, as per the core developers.
At the start of this week, Ethereum’s core developers successfully deployed a “shadow fork” of the update, a test procedure comparable to a dress rehearsal, which would allow users to access their returns from the roughly $25 billion of staked ETH in circulation.
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