Main gains

• Ethereum Shanghai update expected to take place on April 12th
• The user will be able to activate their ETH for the first time
• 17.7 million ETHs are currently locked in, equivalent to 15% of the total supply volume
• Since December 2020, ETH has been

Ethereum is about to embark on its next important event, the Shanghai City Update. But what exactly is it? On what day did it occur?

Well, when is the simplest part. After multiple hopes, the theme event is scheduled to be held on Wednesday (April 12th).

Regarding what they are, the development of today's headline news is that ETHs with bets will eventually be revoked and sold.

Since the launch of the Merge update in September 2022, Ethereum has been a proof of ownership for blockchain technology. However, so far, Ethereum with bets has still been locked in. Once the Shanghai update is released, users can freely use their ETH to do what they like.

Although the combination only appeared seven months ago, bet holders had already locked their ETH into the betting agreement a long time ago. In fact, the shares gradually began in November 2020, and the joint venture was repeatedly delayed until it was finally launched in September.

How much will Ethereum be available for sale?

Finally, the joint venture was released in September, but the comprehensive connection to the equity certificate was not completed. This means that the locked ETH has increased again, with 17.7 million ETHs locked today, which translates into15%In all supplies.

For some investors, this is a quiet wait. In December 2020, the price of Ethereum was less than $400, while in 2021, the price of Ethereum Library continued to decline due to the rise in data encryption. It soared to $4800, but during the bear market period, its price plummeted and once again fell below $1000.

During this period, ETH has been there. Lock in and limit market sales.

Liquid collateral derivative products

Although investors do have decision-making power. Many people use liquid collateral derivatives, which means they receive tokens to replace their collateral ETH. Subsequently, they were able to buy and sell such tokens because once opened, they could exchange for ETH, essentially (and to some extent) trading close to a 1:1 ratio of ETH buying and selling.

Therefore, although the previous data chart depicted an emotional roller coaster ride, where ETH skyrocketed during the epidemic prevention and control period, followed by a random decline, not all investors were forced to ride the roller coaster ride.

Will ETH face sales pressure?

The emergence of gambling derivative products means that this matter will not be so climatized, at least in terms of sales pressure. However, ETH is still relatively easy to sell, and there is nothing to say that investors are not easy to withdraw or sell their ETH directly.

Once again, there's nothing to saytakeIt will also appear. Like many things in the market, it once again returns to the concept of "pricing". This incident is not surprising, so the pressure in all directions will not be significant.

Naturally, some irrational behavior is not uncommon in the cryptocurrency market, so there may be some trends. But again, this is a measure that has been implemented for some time now - the timing is only officially clear.

Environmental analysis is undoubtedly important

Although this matter is particularly important for the fundamentals or long-term future of Ethereum, specifically the price situation and macroeconomic factors remain the most important factors, which are the main reasons for the skyrocketing price of digital currencies in 2023.

ETH will continue to align with the wider sales market. On the contrary, it mainly depends on future interest rate trends and financial market mentality.

So far, there has been a complete change in interest rate estimates for 2023, with pricing ending the super tight monetary policy implemented last year. This is conducive to promoting the northward movement of digital currency prices, with Ethereum rising by 58% this year.

However, the price is unpredictable, especially in the short term. But in addition to increasing or decreasing data, the Shanghai upgrade represents another important milestone for Ethereum as a network and technology, regardless of whether sales pressure will harm prices in the short term.