Less than 1% of staked ETH estimated to sell after Shanghai upgrade: Glassnode
The analytics firm backed up its prediction, stating only 253 validators have signed up to fully exit their staked Ether position. An estimated 170,000 Ether (ETH) of the total 18.1 million ETH staked on the Beacon Chain will be unlocked within the first week of the Shanghai hard fork being executed on Ethereum, Glassnode has predicted. The figure comprises 100,000 Ether ($190 million) worth of staking rewards and 70,000 ETH worth of staked Ether ($133 million) the on-chain intelligence platform predicted in its April 11 report. Glassnode backed up its prediction by explaining that only 253 depositors are waiting to exit their stake and that a few mechanisms are in place to prevent a flood of Ether supply from hitting the market all at once. The highly anticipated Shanghai/Capella hard fork is scheduled to take place on 12-April-2023, enabling the withdrawal of staked #Ethereum. In this extended edition of the Week On-Chain, we shall evaluate the overall Ethereum staking landscape, de...