Hi HODLers and Hiveans,
This is it! Today is the day for the upcoming Shanghai Upgrade taht would technically allow investors/stakers to unstake their Ethereum.
We have around 2 hours to wait for it to be live.
Interested in a cool timer? Go here: https://wenmerge.com/
Glassnode estimated that roughly 170,000 $ETH (around $326mns) would be sold following the Shanghai Upgrade.
They split this number in 2 buckets:
- Around 70,000 ETH would come from validators exiting the network, pulling their staked holdings with them. Analysts state that: "withdrawals are most likely related to a change in their technical setup, rather than exiting their position."
- 100,000 ETH expected to be withdrawn by users wanting to sell their ETH on the market
These $ETH will not hit the market all at once. Individual stakers might have to wait 2-3 days while investors in Staking pooling services such as Lido or Coinbase might have to wait a few weeks!
As I wrote it in a previous article that you can find here; I personally believe that this upgrade and the ability to unstake is very positive for the crypto ecosystem, the Ethereum Governance and the investors!
More information in the latest Bankless Video about the Capella Upgrade:
Stay safe out there,
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