While the Merge was a pure technological shift, the Shanghai upgrade is likely to have an immediate impact on demand-supply dynamics on ether, leading to increased price turbulence. Reports godbole17.
The impending upgrade comes months after the Ethereum blockchain underwent a technological overhaul, dubbed theTraders might remember that ether, the second-largest cryptocurrency by market value, did not see much volatility after the Merge took place on Sept. 15 and conclude that the upcoming upgrade will be a non-event.
. While the pivotal upgrade made Ethereum more environmentally friendly and put ether on the path to becoming a deflationary currency, there was no immediate impact on the supply-demand dynamics of the cryptocurrency. "Some $25 billion worth of ETH will become available for withdrawals and sale. With the staking yields expected to decrease following the upgrade, investors who previously staked may un-stake and move to other assets offering better yields. This would create large selling pressures on the ETH price," Zhiming said.
Besides, ether could turn volatile in the days leading up to the event in a sign of the market endorsing fears of post-upgrade price turbulence.OrBit Markets recently suggested an ether volatility swap to profit from an expected increase in volatility in March.
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