How to Not Care About the Ethereum Shanghai Upgrade

Article source, here.

TL;DR

• The Ethereum Shanghai Upgrade will allow users that have staked their Ethereum (in order to earn interest on their holdings), to withdraw their deposits.

• For the past ~2 years, anyone that staked their Ethereum natively on the network wasn’t able to withdraw their tokens.

• As of this writing, there's about $36.6B worth of Ethereum being staked. But in a few hours, that's all going to be unlocked.

• $36.6B worth of sell pressure would no doubt tank Ethereum's price...but here’s an excuse not to care about potential price fluctuation:

• Whether ETH goes up or down as a result of the upgrade, the price effect will be short lived. If you can stomach a couple weeks of potential volatility - you're good.

Full Story

If we were to have a company office, and that office were to have a water cooler, the buzz around said water cooler would be:

The Ethereum Shanghai Upgrade.

What's it all about? In the simplest terms:

It's an upgrade that will allow users that have staked their Ethereum (in order to earn interest on their holdings), to withdraw their deposits.

You see, for the past ~2 years, anyone that staked their Ethereum natively on the network wasn’t able to withdraw their tokens.

(Which is kinda nuts!).

And get this: as of this writing, there's about $36.6B worth of Ethereum being staked.

But in a few hours, that's all going to be unlocked in the Shanghai Upgrade. In fact, by the time you're reading this - the upgrade should be live.

Which means ETH stakers will be able to sell for the first time in two years - and that's the big question: will they sell?

Because $36.6B worth of sell pressure would no doubt tank Ethereum's price...

Then again, the assurance that any staked ETH can be withdrawn at a whim, could well attract a bunch of buying - as investors see ETH as an asset that they can buy, stake to earn interest on, and sell whenever they please.

It's the kind of speculation that's always bound to drive headlines.

But hey - want an excuse to not care about this? We've got you!

Whether ETH goes up or down as a result of the upgrade, the price effect will be short lived.

Ethereum is a big enough beast to weather any peaks and troughs, and find its way back to its old trajectory.

If you can stomach a couple weeks of potential volatility - you're good.