CryptoQuant Says Massive Sales Wave Is Coming in Ethereum, Explains Its Reasons!

Ethereum (ETH) network, the first of five updates planned to occur Merge It was successfully accomplished in mid-September.

The Merge upgrade was expected to have a positive impact on the price of Ethereum, but it did not.

Investors ETH and on-chain data aggregator as we wait four rounds for cryptocurrency prices in general CryptoQuantThere is negative news for ETH from .

Stating that a sales wave may begin in Ethereum, CryptoQuant analysts said that after the upcoming Shanghai hard fork, there may be large sales in Ethereum and they are investigating the reasons.

Analysts, who stated that there could be two main reasons for the start of mass sales in Ethereum, are the first of these reasons. “Severe increase in the number of ETHs locked until Shanghai hard fork” showed.

In this context, analysts explained that the amount of ETH locked in the Ethereum 2.0 contract currently accounts for 12% of the total Ethereum supply.

Analysts say the second reason “The supply of ETH on exchanges continues to fall” showed.

According to CryptoQuant analysts, the upcoming Shanghai hard fork, Since it will enable the withdrawal of ETHs that have been locked since the launch of the Ethereum 2.0 contract in November 2020, ETHHe believes it will start the big sale in .

In this context, analysts say that traders who want to withdraw their locked ETH will likely start from March, unless the Shanghai hard fork date is delayed. EthereumHe said they will start selling their .

🚨 $ETH Mass-Selling Event Is Coming?

1/ The #ETH2 Deposit has amassed, holding 12% of the total supply.
As the $ETH exchange reserve drops down to 15% of the total supply and continues to decrease,
What will happen on $ETH after the Shanghai Hard Fork?🧵https://t.co/RrFQrLPeda pic.twitter.com/CrWhqSbxPn

— CryptoQuant.com (@cryptoquant_com) December 16, 2022