“Unstaking by Kraken could result in a minimum of 350K up to a maximum of 1.145m additional ETH that could potentially circulate in the market when the staked ETH withdrawals are enabled in the Shanghai Fork,” wrote David Duong, head of institutional research. The Shanghai Fork will allow ether that has been staked, and is currently locked, to be withdrawn for the first time.
Ether Selling Pressure Should Be Fairly Limited Around the Shanghai Fork Upgrade
