China News Today TheBitTimes.com

Ethereum is scheduled to implement the Shapella hard fork, or Shanghai upgrade, on Wednesday. This update will enable stakers to unlock their staked ETH . However, some investors are concerned about the potential for a significant sell-off of Ether on exchanges. On the other hand, there is also a rising worry about the issues that could potentially arise due to the much-awaited change. The merge was one such anticipated update that witnessed the network transition from proof-of-work to proof-of-stake. Also read: Bitcoin: Percent of Supply Last Active 2+ Years Ago Reaches ATH of 53.004% Could Shanghai upgrade cause a drop in Ethereum price? With over 18 million Ether staked at press time, Coin Metrics reveals that there could be a potential withdrawal of at least 1.2 million Ether. It’s estimated this is worth around $2.2 billion. One uncertainty that is floating around is what changes it could bring in terms of demand. “The market is going to whipsaw back and f...

The first three to five weeks after Ethereum’s upcoming Shapella upgrade will likely see an uptick in selling from unstaked deposits. The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella. The upgrades will enable withdrawals from Ethereum 2.0 staking contracts. The staking contract was first launched in December 2020. It only accepted one-way deposits of ETH, which will change after the upgrade. To date, users have deposited over 18 million ETH, worth around $32.5 billion, into the Ethereum staking contract at varying times since December 2020. Analysts vary on the estimates of ETH sell pressure Most users opted for liquid staking derivatives on decentralized or centralized exchanges. Because these stakers are already liquid, there will likely be no new reason to sell after the Shapella upgrade. Decentralized LSD platforms like Lido currently account for around 33.2% of the total ETH...