Less than 1% of staked Ether is estimated to hit the market within the first week of the Shanghai hard fork.
It also anticipated that crypto lending platform Celsius may withdraw a large amount to sell its staked Ether asHowever, it is unlikely that Kraken and Celsius will make these withdrawals as soon as Shanghai is activated, it said.
Approximately 11.2% of the Ether staked on the Beacon Chain is operated by Kraken’s staking service. Source:The average deposit price across all staked ETH is $2,136, down 12.7% from Ether’s current price of $1,865, which equates to a net unrealized loss of $4.7 billion, Glassnode said: “After the peak unrealized loss of $16B in July 2022, the net unrealized loss now amounts to $4.7B. It is mainly carried by the Whale sized depositors, who hold a 76% share of the unrealized losses.”
Global financial firm Fidelity Investments is also of the view that Shanghai won’t have too much of an impact on Ether's price action.
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