Ethereum After the successful Shanghai update, Ethereum price approached $2000.
Unlocked Ethereums There has been a large amount of liquidation in the last 24 hours as some traders shorted Ethereum, which they thought could create selling pressure.
According to Coinglass data on Ethereum While 44 million dollars of positions were liquidated in the last 24 hours, 10 million dollars of this was in long positions and 34 million dollars in short positions.
Most liquidation OKX seen on the stock market.
How Much ETH Has Been Withdrawn?
In the last 24 hours after the Shanghai update, 34,928 ETH was staked to the network, while 128,167 ETH ($255 million) was withdrawn. Net outflow was 93,239 ETH.
When we look at the current price action, we see that the unlocked and withdrawn ETHs have not yet been predominantly sold and there is no selling pressure in this direction.
The current average price of ETH staked so far is $3466. Investors do not seem to want to sell at a loss, thinking that the price of ETH will rise.
If this level is maintained in ETH, which is likely to rise above $2000 in the coming hours, we could see the rises in altcoins get harder.
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