In a recent Twitter thread, Chris Burniske, a partner at venture capital firm Placeholder, expressed a fairly bullish forecast for ethereal.
The ethereum Shanghai upgrade is an optimistic development for ether investors, according to Chris Burniske. He believes that the fact that ethereum participants can exercise control over their own assets is positive for the entire ecosystem.
The creator of the BR Capital fund, Rezo, expressed a rather similar opinion to this on Twitter. The flexibility to stake and opt out of ETH will have a positive impact in the long run, as Rezo observed. He thinks the Shanghai update will improve overall confidence in ethereum.
Experts agree that stakeholders will have more control over their assets after the ethereum Shanghai upgrade, which is expected to be a key milestone for the entire ethereum community. Several market analysts have a favorable outlook on ethereum’s long-term prospects, although the market has a degree of uncertainty and anxiety.
Ethereum, widely regarded as the preeminent platform for smart contracts and decentralized finance ecosystems, is preparing to roll out a major upgrade to its network. The ethereum community will reach a new milestone on April 12 when the ethereum Shanghai update goes live.
This update will allow speakers to withdraw ethers from the PoS beacon chain. As a result of this news, bullish investors on ethereum have seen a remarkable fifty percent gain year-to-date, according to market statistics from TradingView.
Ethereum traders have an optimistic outlook coming to the end of the first quarter. They anticipate that the Shanghai update will trigger more swings higher.
However, there are concerns that staked Ethereum could be sold on the secondary market. It could result in an increase in the total amount of pressure to sell. Furthermore, the price of ethereum has decreased by more than 61% since the start of the staking program two years ago.
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Ethereum price today
As the Shanghai update approaches, ethereum price is currently trading at $1,822 as bulls try to take over the market. The asset is up close to 1% in price at press time, with trading volume up 28%, revealing increased whale activity in anticipation of the update.
Currently, more than 561 thousand ethereum validators have staked a total of approximately 17.9 million ETH. Experts anticipate more volatility during the event; however, it is unknown how the market will respond to the update at this time.
