In a new announcement, crypto exchange Binance says it has enabled the withdrawal function for ETH 2.0 staking.
Thus, ETH 2.0 staking participants will be able to redeem ETH with their BETH holdings on a 1:1 basis on the ETH 2.0 Staking page, starting from April 19 at 8:00 a.m. (UTC).
Binance says that as the ETH staking withdrawal takes effect, initially, it may take 15 days to several weeks before users' ETH withdrawal requests can be fully processed. The time it takes to process ETH withdrawal requests may be determined by the overall amount of ETH withdrawals requested by participants as well as by the Ethereum network.
The crypto exchange says that the expected distribution date of redeemed ETH will be shown before users confirm their withdrawal requests.
Due to processing limitations on the Ethereum network, Binance says it will set a daily ETH redemption quota for each Binance user, which might be subject to change.
The Shanghai and Capella upgrades, known as Shapella, which enabled unstaking for the first time since ETH staking was introduced in December 2020, went live on April 12.
As reported, over 1 million Ethereum (ETH) have been withdrawn since the historic upgrade occurred.
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