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Most blockchain upgrades have an impact on price action. The Ethereum Shanghai upgrade would be no different. Ether supplies on exchanges have already started to plunge as investors choose to move their assets to self-custody. The previous Ethereum upgrade created good volatility in the market, which traders tapped into.
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According to an Orbit Markets analyst, the upcoming Ethereum Shanghai upgrade could bring sustained Ether price volatility. Reports suggest that the upcoming Ethereum Shanghai upgrade could induce Ether (ETH) price volatility in a way the Merge could not. According to institutional liquidity provider OrBit Markets, the Shanghai upgrade would facilitate withdrawals of over 16.5
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Ether's price dropped 10% to $1,472 on the day of the Merge, but volatility quickly faded, with prices trading in a narrow range of $1,300 to $1,400 during the following four weeks. Ether's 30-day realized volatility fell from an annualized 85% to nearly 60% in the four weeks following the
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“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
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Ether (ETH), the second-largest cryptocurrency by market capitalization, has seen a constant decline in exchange supply over the past six months post-Merge. The Ethereum network underwent a major upgrade in September 2022, moving from a proof-of-work (PoW) to a proof-of-stake (PoS) network in an event called the Merge.According to on-chain data
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Aavegotchi is an “open-source, community-owned NFT gaming protocol,” as stated on its homepage, where users can interact with the Aavegotchi metaverse and stake their NFTs with Aave’s interest-generating aTokens. Aavegotchis, the on-chain collectible NFT ghosts, have three attributes - collateral stake, traits and wearables - that dictate their value and
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JPMorgan, one of the biggest financial institutions in the world, estimates that the arrival of the next Ethereum upgrade, codenamed Shanghai, will bring more investors to stake their funds in the protocol. The firm believes that this number might reach 60% of the ether issued, a number already staked in
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It could be argued that the utility of these liquid staking protocols would be reduced as the upgrade date approaches, the note said. The counterargument is that the utility of these protocols is not limited to only providing liquidity, but also acting as an intermediary for retail investors who would
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“This upgrade will bring new cryptographic primitives to Cardano, encouraging greater interoperability and secure cross-chain DApp development with Plutus,” IOG said Wednesday. Original Source
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