Ethereum ETH price under the threat of falling. Hardfork soon🔥
Updated
In 10 hours, the Shapella hardfork will include two major updates, Shanghai and Capella, lower commissions, and add the ability to withdraw ETH from staking.
And it is precisely the possibility of withdrawing Ethereum from staking that can create a good additional supply of ETH on the market.
We have seen various assumptions about the amount of ETH that will be released to the market, from a positive figure of only 1 billion$ to the most pessimistic 34 billion$. It all depends on the temperament of the person who made the calculations and put forward their assumption.
However, the eternal law of supply and demand cannot be changed: More supply means a lower price.
Now let's get to the facts, and we are only interested in one:
But who knows what it will be like in reality)
So, we have identified a wide range of $1350-1550 for ourselves, where we are ready to buy ETH again in our medium and long-term investment portfolios.
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And it is precisely the possibility of withdrawing Ethereum from staking that can create a good additional supply of ETH on the market.
We have seen various assumptions about the amount of ETH that will be released to the market, from a positive figure of only 1 billion$ to the most pessimistic 34 billion$. It all depends on the temperament of the person who made the calculations and put forward their assumption.
However, the eternal law of supply and demand cannot be changed: More supply means a lower price.
Now let's get to the facts, and we are only interested in one:
- According to the project documentation, with the input data that is known now, full unlocking of funds is available for eight validators per epoch (1,800 per day). This means that 57,600 ETH (~110 million$ at the exchange rate at the time of writing the idea) can be withdrawn from the staking every day under this procedure.
Taking into account that the daily turnover of ETH is 9-10bn$, the unlocking should not critically affect the price of ETHUSDT
But who knows what it will be like in reality)
So, we have identified a wide range of $1350-1550 for ourselves, where we are ready to buy ETH again in our medium and long-term investment portfolios.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Note
ETH Shapella = Shanghai + Capella - updated!→ 713,178 ETH pending for withdrawal. Total of 19,203,962 ETH in Beacon Chain.
→ - 76,236 ETH net outflow
→ 19,869 validators planning to withdraw their ETH in full
→ 1,963$ - average price of locked ETH
Source: Nansen Analytics
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