Post Etherum Shanghai Upgrade And It’s Effect On Market Price
The Ethereum Shanghai upgrade which happened couple of weeks ago, saw the implementation of several proposals of which are the EIP3651, EIP 6049, EIP 4895 among of all proposals which that will bring a bit of improvement to the ethereum chain is the reduction of gas fee which is the EIP3651 which is referred to as the warm Coinbase in a simple context is the reduction of gas fee for transactions that goes through the coinbase etherum address.
The EIP 3651 will definitely be a relief to the coinbase wallet users, tho I was expecting that there will be price improve within the ethereum market which happened but it failed to usher in the bullish sentiment. There is still a projection that the current bearish sentiment is that the market is trying to create in new resistance, as it’s been said that the upgrade as regards market price that two scenarios might play out.
Looking at the long term regardless of the ability for investors to withdraw/ unstake their Ethereum tokens, the process at which this is done is quite stressful and with the 10% cap every month, the negative effect on the market price will be minimal with a long term improvement in security and the ethereum network generally.
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