CryptoQuant, the on-chain analytics platform Ethereum He talked about the Shanghai upgrade scheduled for next week on his (ETH) network. The platform is not expecting major selling pressure, as its community fears. Shanghai upgrade release on April 12 Waiting.
CryptoQuantAccording to , the selling pressure is likely to be lower than feared as the staked Ethereum is below the price at which investors bought it.
“On April 12 Shanghai upgradeThere is a fear that the increase in withdrawals will bring more selling pressure than usual. However, our profit and loss analysis shows otherwise.
At their current price, more than half of ETHs, which is 9.7 million out of 17.9 million, are at a loss. We believe the selling pressure will be lower than expected as a significant portion of ETH is currently at a loss.”
CryptoQuant also noted that a significant portion of Ethereum staked by liquid staking solution Lido is also in loss.
According to Binance Research, there are over 16.5 million staked Ethereum, which is roughly 14% of the total supply.
You can follow the current price action here.