Ethereum surges on the Shanghai update

aenor (64)in #ethereum • last year

All the pundits thought Ethereum would collapse after the Shanghai update (which allowed stakers to unstake). Their reasoning was that none of the stakers expected to be locked in so long (+2 years), and in relief they'd unstake and dump.

But most of the stakers are underwater. If they've waited this long, why wouldn't they hold and stake a while longer till the price hit their target?

Meanwhile there are a bunch of people who wanted to stake, but were put off by being locked in. Now that there is no lock and they can stake and unstake at will, they'll stake.

Here is what has happened to the Ethereum price:

The rise means it's finally caught up with the rises in bitcoin this last month.

#crypto

last year in #ethereum by aenor (64)

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steem.history (78) last year

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