Expert on ETH hard fork: It’s safe to say that the update was positively received by traders and investors
According to Coinmarketсap, on April 13, the price of Ethereum crossed the $2,000 mark, thus updating the maximum since August last year. During the day, ETH has risen in price by 5.1%.
The founder of MinePlex Digital Banking, Alexander Mamasidikov, expressed the opinion that the growth in the value of the second-largest cryptocurrency in terms of capitalization is connected to a greater extent not with macroeconomic, but with the project’s own reasons.
On the night of April 13, the Shanghai hard fork took place in the Ethereum network. Amid the update, the withdrawal of tokens from staking was unlocked, however, despite the concern of some members of the crypto community, this did not have a negative impact on the price of ETH.
“Contrary to the fears of many market participants, the ETH rate tested $2,000. It is safe to say that the update was positively received by traders and investors. The ability to withdraw coins [from staking] is limited, as this may put pressure on the price,” said Vladimir Cherpichnikov, head of the http://Exmo.me exchange.
In the Ethereum network, 18 million tokens were blocked for staking, which is equivalent to almost $32 billion. After the hard fork, about 65,000 ETH were withdrawn, while the number of deposits amounted to 15,344 ETH. Currently, there are more than 700,000 coins in the withdrawal queue.
Some experts have previously expressed concern that the validators who will withdraw Ethereum from staking will start selling tokens, which could provoke a fall in the price of the cryptocurrency. However, after Shanghai, the value of Ethereum even increased.
“Most people have been able to sell their staking ETH for a long time. The fact is that most of the ETH was locked through various DeFi platforms with such a feature, for example, Lido or Rocket Pool. Therefore, I don’t think that the Shanghai update can really seriously change the Ethereum economy,” summed up the head of the Mantle product under the pseudonym Jacbc.eth.
