As Ethereum prepares for the highly anticipated Shanghai upgrade, the crypto world is buzzing with excitement and anticipation. This upgrade is expected to have a significant impact on the market, and Ethereum whales are making their moves in response.
One notable player, Blockchain Capital, has been making significant trades ahead of the upgrade. According to Lookonchain data, the company recently sold 1.5 million Lido DAO tokens, generating a profit of $1.05 million. They also bought and sold RPL, generating an additional $1.09 million in profits.
While some investors are concerned about a potential sell-off of ETH after the upgrade, data suggests that this analysis may be overstated. 60% of the staked ETH supply is currently at a loss, suggesting limited selling pressure in the short term.
In the long run, the Shanghai upgrade is expected to have a bullish impact on Ethereum. After the upgrade, staking yields from ETH could be similar to the risk-free rate used by traditional capital markets, attracting more institutional capital into the crypto economy.
As the Ethereum community awaits the results of the Shanghai upgrade, it’s clear that the crypto world is entering a new era of growth and potential.