.coinbase says krakenfx's decision to shut its staking business as part of its settlement with the SEC has added to the uncertainty around ether supply dynamics ahead of the Ethereum blockchain’s planned Shanghai upgrade. willcanny99 reports.
Coinbase notes that Kraken’s staking pool on Ethereum makes up about 7% of total staked ether supply, however, not all of these assets will have come from U.S. retail clients.
It’s unclear if freeing this additional ether will be a catalyst for selling pressure, the report said, noting that in December, investors were worried that the upgrade “represented an important event risk to the downside,” but that view shifted as crypto market sentiment improved.
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