Ethereum’s Shanghai upgrade is set for March 2023! Is this HODL or DUMP?

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

...I wonder how this will affect Ethereum ecosystem and the "universe" of cryptocurrency...

Obviously, a lot will depend on the price at which the investor bought Ethereum for staking. After all, the cost of ether during this time varied from 600 to 4500 dollars. And if some can fix a profit, then to others such a sale will mean fixing losses.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

If those staker, who for many years waited to withdraw their rewards, will eventually decided to "dump" this will cause a huge effect to the market though we also know that they have many faithful and loyal supporter who thinks and believe the greatness and usefulness of this project.

They did stake to earn additional coins. Of course some would sell, but with an upgrade like this, many would be thrilled and some major improvements would be seen. I assume these stakers are bulk holders and they also feel that selling at this point wouldnt help them earn that much, for surr they will just stake again their earnings for more % in the rewards. How come youll dump in a market situation like this.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: flying_bit on February 03, 2023, 06:22:58 PM

Quote from: CryptoSperm on February 02, 2023, 12:10:11 PM

I heard a rumor that Devs believe 80% of the ETH supply will eventually be staked. Does anyone know where this rumor came from?

I am not sure where you heard that but Ethereum Shanghai will "enable" Staked ETH withdrawal of all validator, stakes will be liquid. Once Shanghai update is complete, validator can move their fund anytime they want which can lead to more investor.

Those stakers have been staking lots of money. The new update will be executed through shanghai upgrade to make public less worried about their money if they wanna try to be validator. I meant they can unstake it anytime. This is the main point.

There are some EIPs being included in this update and it may be executed later like EIP3651 which is related to the gas fees, EIP3855 lowering gas to the developers, EIP3860 gives caps to the developers gas price cost.

I think that such rumour happened once shangai will be implemented caused by people shall not feel worry to stake their ethereum

flying_bit

jr. member

Activity: 434

Merit: 9

Quote from: CryptoSperm on February 02, 2023, 12:10:11 PM

I heard a rumor that Devs believe 80% of the ETH supply will eventually be staked. Does anyone know where this rumor came from?

I am not sure where you heard that but Ethereum Shanghai will "enable" Staked ETH withdrawal of all validator, stakes will be liquid. Once Shanghai update is complete, validator can move their fund anytime they want which can lead to more investor.

TravelMug

hero member

Activity: 2632

Merit: 833

At this point? I would say HODL and see where the price will be. We are somewhat in a bear market, so any positive news will bring good effect on the market. And if I'm not mistaken, the last upgrade was also a pump on Ethereum and it almost touch $2k if my memory serves me right.

However, it there is a pump in price, maybe we can see it also dumping when investors trying to get their profits.

But in the end, it's better for a long hold though, or at least wait till the next bull run before dumping your Ethereum.

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

Quote from: flying_bit on February 02, 2023, 02:17:39 AM

Quote from: Fundamentals Of on February 01, 2023, 10:07:52 PM

Regarding the withdrawal of the staked ETH, it is not a problem. The amount of ETH staked is consistently rising. And if it rose when the withdrawal feature wasn't there yet, it will rise more because the feature is already there. Stakers won't worry anymore as to when they could unstake their ETH. So this Shanghai upgrade will boost more confidence and attract even more stakers.

Good point on this one. I was looking for a more positive outcome of this upgrade in the net and most of the news I see pointed out how this hardfork can cause dump. Thanks for enlightening me Grin

In the first place Ethereum is a trusted altcoin. It is not just one of the thousands of shitcoins out there. So that itself is already a reason why stakers are confident of it. If shitcoins have stakers, how much more for Ethereum? If they trusted Ethereum and staked their coins back when staking means having your ETH locked without a definite withdrawal time, they will trust Ethereum more this time.

It is purely a wild imagination to consider that by the time withdrawal is allowed all stakers would dump their ETH. That is without basis. They are sufficiently rewarded. Why would they stop what they are doing? I am looking forward to more stakers with the Shanghai upgrade.

Captain Corporate

hero member

Activity: 2156

Merit: 575

Any type of upgrade that ETH will have from the foundation and accepted by the public is a great thing to hold for me. I mean there could be some smaller stuff, like those guys who kept a version of ETH that is still mined for example, and that wasn't really a good fork to be honest, never got involved with that. But if it is on the official ETH and it is accepted by the public and the big exchanges are all switching to it? Then it is something that I will always be in support of, I really like ETH a lot, just like the ranking, it is also the second coin in my portfolio right after bitcoin and it will stay there until I retire for sure.

bitcampaign

sr. member

Activity: 1918

Merit: 268

20BET - Premium Casino & Sportsbook

before wasn't it when POWs were also miners could just sell it at any time and what's the difference with stakers being able to withdraw their prizes and throw them away, after all they are also not just random people who are not like a weak hand throwing cheap away, they hold ETH because they believe the value can still be more higher than the previous ATH

Psynthax

hero member

Activity: 2366

Merit: 504

It will have no influence whatsoever those stakers for all I know are doing it for long term investments.
they aren't gonna gets shaken just because they could unlock their coins and dump it to the market.
instead they are just gonna stake their coins more and more, less stakers means less competition, if they could stake their coins for few years surely they are sufficient enough in terms of wealth.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

this signal in regards of ethereum upgrade could always mean both ways, but usually the rumour is the one that gonna drives the value up and then when the upgrade actually takes place nothing happened to the value of ethereum.
but considering the upgrade, I think when the upgrade takes place, there might be slight dump, it's true that there are many that willing to dump their money and migrate over in newer coins like matic but i'm sure that's just small share of them.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

Ethereum's upcoming upgrade, Shanghai, is said to happen on March 2023.
This hardfork will enable ETH staker and validator to withdraw from Beacon Chain which said to be approximately 16 million coins or over $25 billion.

Well usually i would say the news about an upcoming update is always a positive thing because that means that the project is alive and still developing actively. Of course in this case this could be different, because if that many tokens can now be withdrawn this could also mean that a lot of tokens could be for sale at the same time which can have a pretty big and negative impact on the price of the coin, even if it is a project like Ethereum that has a huge trading volume.
That being said, i don't think that we will see a heavy dumping after this upgrade and also not shortly before. Usually such activities are happening as soon as they are announced or even before.

CryptoSperm

newbie

Activity: 79

Merit: 0

I heard a rumor that Devs believe 80% of the ETH supply will eventually be staked. Does anyone know where this rumor came from?

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

I guess the quote "Buy the rumor, sell the news" is still applicable in crypto right?

In this case, it isn't a rumor, but it's official that Shanghai update will be implemented in the 3rd month of the year. When they released this update, the price of Ethereum pumped already (I just don't know when the news released). Now when this is implemented, there is a high chance that some will apply the "sell the news" quote therefore, they will sell it immediately.

On the other hand, there is also a chance that the implementation of the update might not affect the price negatively, but looking at the update where those who staked their Ethereum can un-stake them, there is a chance that they will sell the Ethereum that they've bought earlier at a profit. As for me, I'm a long term investor so any dumps for Ethereum is an opportunity for me so I want Ethereum to dump as Shanghai will be implemented.

o48o

legendary

Activity: 3052

Merit: 1168

Leading Crypto Sports Betting & Casino Platform

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

Ethereum's upcoming upgrade, Shanghai, is said to happen on March 2023.

This hardfork will enable ETH staker and validator to withdraw from Beacon Chain which said to be approximately 16 million coins or over $25 billion.

I wonder how this will affect Ethereum ecosystem and the "universe" of cryptocurrency.

If those staker, who for many years waited to withdraw their rewards, will eventually decided to "dump" this will cause a huge effect to the market though we also know that they have many faithful and loyal supporter who thinks and believe the greatness and usefulness of this project.

Ethereum is still the 2nd most dominating cryptocurrency after bitcoin and I'm hoping Buterin have a great plan to convince those holder to keep their rewards and not to dump it.

There will be some angry people who didn't know that they wouldn't be able to instantly unstake it who will sell it out of spite, no matter if they are in loss or not.
But those people aren't really the backbone of eth price anyway so i am guessing there will be as many many buy orders waiting for that drop as well.

I am expecting some sort of dump, if for nothing else then because of sell the news effect. However if the drop won't instantly come there will be some people panic buying it. It's a toss of a coin. But it would be hard to imagine that nothing happened to price.

zasad@

legendary

Activity: 1932

Merit: 4602

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

Ethereum's upcoming upgrade, Shanghai, is said to happen on March 2023.

This hardfork will enable ETH staker and validator to withdraw from Beacon Chain which said to be approximately 16 million coins or over $25 billion.

I wonder how this will affect Ethereum ecosystem and the "universe" of cryptocurrency.

If those staker, who for many years waited to withdraw their rewards, will eventually decided to "dump" this will cause a huge effect to the market though we also know that they have many faithful and loyal supporter who thinks and believe the greatness and usefulness of this project.

Ethereum is still the 2nd most dominating cryptocurrency after bitcoin and I'm hoping Buterin have a great plan to convince those holder to keep their rewards and not to dump it.

I think that when stakers have the opportunity to withdraw their coins from staking, the price of ethereum will be much lower. Ethereum is a promising coin with a lot of liquidity, and I don't think many market participants will want to sell their coins. And if this happens, then the price drop will be temporary.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: flying_bit on February 01, 2023, 08:31:09 PM

Ethereum's upcoming upgrade, Shanghai, is said to happen on March 2023.

Did you see how Ethereum performed after the last upgrade The Merge?

I believe that Ethereum won't go ahead of Bitcoin and make its new all time high before Bitcoin can make its new all time high that is above $69,000. Ethereum as one of altcoins must follow Bitcoin in big bull runs and we will have to wait for Bitcoin bull run first.

Bitcoin won't make its new all time high before its next halving so let's be realistic about Ethereum performance after Shanghai upgrade.

flying_bit

jr. member

Activity: 434

Merit: 9

Quote from: Argoo on February 02, 2023, 02:56:24 AM

Absolutely agree with this. The upcoming update will only increase the credibility of the ethereum network and this coin. If validators get the opportunity to manage their coins again, this does not mean that they will begin to sell them in bulk. Perhaps for some time we will get such a short-term effect, based on the fact that in some of them unforeseen expenses could arise during this time, but in general, such an update will only benefit the survivability of this network.

Good point. At first, as regular human being//noob me, I was like...there's gonna be a HUGE dump. I just got back from long hiatus in crypto after the 2020 5k dive and reading the news about this ETH Shanghai makes me really think what's the next move for me.

Then when I read Fundamentals Of reply, I was like...yes, this makes sense. The news didn't give the good side of what will happen after the hardfork. The liquidity and the gaining of more trust from the supporter because they can easily withdraw and stakes and move their investment will create more robust ecosystem.

Quote from: yazher on February 02, 2023, 04:04:36 AM

With this kind of update, surely they will gonna be attracting investors and it's really recommended to hold your ETH because the price will rise, and no doubt about that.

I don't have much but I will surely just HOLD for now;D

There are many changes in crypto world and I want to educate again myself before doing anything.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

With this kind of update, surely they will gonna be attracting investors and it's really recommended to hold your ETH because the price will rise, and no doubt about that. But you just need to be careful when it comes to the money you are using to invest and make sure you can afford to lose it or you don't need it soon because this might not actually rise the price so soon rather it will gonna take some moment before the price will improve in the market when the investors see it as a successful update in the Ethereum's part.

Argoo

sr. member

Activity: 2352

Merit: 245

Quote from: Fundamentals Of on February 01, 2023, 10:07:52 PM

The effect of this will be positive. In the first place this is an upgrade. With Shanghai upgrade, certain problems will be solved like delays. And this is in preparation for the Surge upgrade which will improve Ethereum's scalability. So this upgrade should not be perceived as a disadvantage.

Regarding the withdrawal of the staked ETH, it is not a problem. The amount of ETH staked is consistently rising. And if it rose when the withdrawal feature wasn't there yet, it will rise more because the feature is already there. Stakers won't worry anymore as to when they could unstake their ETH. So this Shanghai upgrade will boost more confidence and attract even more stakers.

Absolutely agree with this. The upcoming update will only increase the credibility of the ethereum network and this coin. If validators get the opportunity to manage their coins again, this does not mean that they will begin to sell them in bulk. Perhaps for some time we will get such a short-term effect, based on the fact that in some of them unforeseen expenses could arise during this time, but in general, such an update will only benefit the survivability of this network.

flying_bit

jr. member

Activity: 434

Merit: 9

Quote from: Mr. Magkaisa on February 02, 2023, 02:03:46 AM

- For ETH holders I just think, this is a good thing for them, in short, it can be a positive view as a holder. You are the one who said that ETH is always second to bitcoin, so those who believe in ETH also have nothing to worry about.

Also, every day of our lives the number of ETH holders is also increasing and increasing, don't you know that mate?

I am not really aware of ETH Holders and all I know is that ETH is always comes after Bitcoin and sit supreme in all altcoins.

I am posting this because I am asking for thoughts of people more knowledgeable on this matter mate Wink

Topic: Ethereum’s Shanghai upgrade is set for March 2023! Is this HODL or DUMP? (Read 208 times)