As Ethereum’s Shanghai upgrade is scheduled for April, ETH stakers will soon be able to withdraw their holdings. The question is whether they will choose to sell their ETH.
The upcoming Ethereum network upgrade, known as the Shanghai upgrade and scheduled for release in April, will finally allow Ethereum (ETH) stakers to withdraw their holdings. However, the question remains: will they sell?
With the current bullish market sentiment for cryptocurrency, many holders of ETH are likely to hold onto their assets, despite the ability to withdraw. This is especially true for those who staked their ETH in the first place, demonstrating a commitment to the network’s long-term success.
However, it is also possible that some stakers may choose to sell their ETH, either to take profits or to move their investments into other cryptocurrency projects. Additionally, the potential influx of newly available ETH on the market could cause a temporary dip in price.
Regardless of the short-term effects, the ability for stakers to withdraw their ETH holdings is a significant milestone for the Ethereum network, as it allows for greater flexibility and accessibility for those who have committed to supporting the network’s growth and development.
There are concerns that some individuals might withdraw their ETH and sell them to take advantage of potential gains. However, these gains may not be significant since the price of ETH on December 1, 2020, was $612. Even if someone sells their ETH at the current price, they will still have a profit of 156%.