Ether underperforms bitcoin in a macro-led bull revival amid fears of a supply deluge post-Ethereum's Shanghai upgrade. Reports godbole17.
two weeks ago, with its net supply increase turning negative for the first time in over a month.
. The data shows the leading smart contract blockchain is now burning more ether than what's being minted as opposed to bitcoin.While bitcoin has gained nearly 43% this month, ether has appreciated by 36%, CoinDesk data show. The ether-bitcoin ratio, or ETH/BTC, is on track to post its second straight monthly decline.Defensive positioning ahead of the Shanghai upgrade
The whole staking balance of 17.26 million cannot be withdrawn on the day of the upgrade and only 43,200 ETH can be unstaked per day. However, the total staking reward of the past two years, which equates to around 1 million ETH, can be withdrawn instantly.
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