Ethereum’s (ETH) Shanghai Update Scheduled for April! Are Stackers in Profit?

Ethereum’s Shanghai The update is scheduled for April. ETH stakers will finally be able to withdraw their holdings.

Only 16% of Ethereum (ETH) Stackers In Profit Ahead of Shanghai Update

All the attention in this particular update revolves around one thing: withdrawal of staked Ethereum.

Since staking began in December 2020, while the network has just begun its journey towards the Proof-of-Stake consensus algorithm, those who have locked their funds have not been able to withdraw these funds.

Ethereum’s Shanghai upgrade is very close and is expected to change in April.

Some argue that people will quickly withdraw their ETH and dump it to make some gains.

But these gains will not be very large. If you had fixed your holding on December 1, 2020, the price of ETH would have been $612. Selling at current prices still means you’ll make a 156% profit.

In fact, in dollar terms, only 16% of stakers have made money since staking began. If the upgrade were to take place today, the vast majority of users would have suffered quite serious losses.

It’s impossible to know what people will do when faced with potentially double-digit losses. Still, about $6.25 billion has been invested and some of the investors may sell their ETH.

Despite the concerns, the Ethereum community is optimistic about the upcoming upgrade as it is expected to bring significant improvements to the network. Decreased transaction costs and increased sustainability are expected to make Ethereum more attractive to developers and users alike.

As a result, “will it be a big drop?” as most publishers were at a loss due to high stakes prior to the Shanghai upgrade. It calms some of his worries.

On the other hand, the Ethereum community remains positive about the potential of the upgrade to improve the functionality of the network and make it more sustainable.

*Not investment advice.