Here's why $ETH price won't be affected heavily by Shanghai: Analysis by glassnode Ethereum Shanghai
Glassnode experts attempted to research the motivation and economic catalysts of various group of depositors who locked Ethers into its proof-of-stake contract.
In a detailed analysis, researchers simulated the behavior of large stakers, validators, solo stakers,"veteran stakers" who injected liquidity in 2020 and many other groups of Ethereum investors. As a result, three scenarios have arisen. The most"bearish" case, i.e., the maximum selling pressure on Ethereum , is associated with 1.54 million ETH becoming liquid. At the same time, this is highly unlikely: the estimation of 170,000 Ethers looks more viable thanks to a complex of economic estimations.
Given the Shanghai upgrade is widely expected and understood, based on this analysis, the unlock event is on a similar scale to day-to-day trade for ETH markets, and is therefore unlikely to be as dire as many speculate it to be. As such, the crypto community should not be too bearish about the Ethereum price's short-term dynamics.Based on these assumptions, the optimal scenarios can result in a 8% price drop at worst. To provide context, the collapse of FTX erased over 35% of Ether's price.
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