GMXUSDT APRIL looking promising
Ethereum Shanghai is releasing on April 12th and the perpetual DEX narrative seems like is catching eyes for ARPIL. Iiquidity pools will be hotter later this year.
"Ethereum Shanghai" is currently the hot topic in cryptocurrency space with such update, now what is "Ethereum Shanghai" all about?
-As we all know, "Ethereum Merge" update took place earlier in September 2022 and switched the mining process of Ethereum from PoW to PoS. With PoS thousands of investors were able to stake their precious ETH for 3-6% yearly staking rewards, all they were required was 32 ETH initially to stake and lock their ETH for a couple months without being able to move them.
Now, with "Ethereum Shanghai" investors will finally be able to withdraw their precious ETH. So to sum things up, "Ethereum Shanghai" is the upgrade that will allow investors to withdraw the money they are staking.
What will this mean for the price of Ethereum?
- Users have been staking ETH since December 2020 in the Beacon Chain to help secure the exchange by earning rewards. It is thanks to the "Ethereum Shanghai" upgrade those investors will be able to move their money now. It is not necessarily a bearish scenario for Ethereum's price to go down as a result from investors withdrawing their money. However, investors are speculating that Liquid Staking Derivatives(L.S.D :memes_laugh_elon: ) like Lido, Rocketpool, and FXS are going to start attracting all of that money as their staking rewards are seemingly more attractive and offer the option to be able to withdraw their money at any given time.
"Ethereum Shanghai" is currently the hot topic in cryptocurrency space with such update, now what is "Ethereum Shanghai" all about?
-As we all know, "Ethereum Merge" update took place earlier in September 2022 and switched the mining process of Ethereum from PoW to PoS. With PoS thousands of investors were able to stake their precious ETH for 3-6% yearly staking rewards, all they were required was 32 ETH initially to stake and lock their ETH for a couple months without being able to move them.
Now, with "Ethereum Shanghai" investors will finally be able to withdraw their precious ETH. So to sum things up, "Ethereum Shanghai" is the upgrade that will allow investors to withdraw the money they are staking.
What will this mean for the price of Ethereum?
- Users have been staking ETH since December 2020 in the Beacon Chain to help secure the exchange by earning rewards. It is thanks to the "Ethereum Shanghai" upgrade those investors will be able to move their money now. It is not necessarily a bearish scenario for Ethereum's price to go down as a result from investors withdrawing their money. However, investors are speculating that Liquid Staking Derivatives(L.S.D :memes_laugh_elon: ) like Lido, Rocketpool, and FXS are going to start attracting all of that money as their staking rewards are seemingly more attractive and offer the option to be able to withdraw their money at any given time.
CryptoGao🎯- Professional sniper with 7 years of experience in Crypto.
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Discord🗨 : discord.gg/mcFxP5HPtf
FREE education/signals chatroom 💬
Twitter: @cryptoGao1 (I'm tweeting daily educational tweets)
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