The Ethereum Shanghai Upgrade And It’s Effect On Market Sell Pressure

source

The Shanghai upgrade of the Ethereum blockchain which many fear that the second to the largest cryptocurrency according to market capitalization will under go a severe sell pressure. But the on-chain analysis platform is having a second thought that this might not be possible in the sense that after the upgrade holders will be able to unstake their Ethereum which the selling pressure above the normal is unlikely.

In a tweet the on-chain analysis company tweeted that There is an ongoing fear that the activation of withdrawals on April 12th with the Shanghai upgrade would bring more than usual selling pressure.

However, our profit and loss analysis shows otherwise.With the current ETH prices, more than half of the staked ETH (9.7 million out of 17.9 million) is currently at a loss.For the sole reason that the significant staked ETH is currently at a loss, we believe that the selling pressure will be lower than expected.

Looking at the liquid staking solution Ludo has it’s said that their pool is underwater, with 14% of the total supply there might be little or no effect as regards market price.

If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in h growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
Twitter:Hironakamura

Posted Using LeoFinance ^Beta