Ethereum is expected to deliver a significant upgrade on 12th April, dubbed as the Shanghai Upgrade, which would also enable the staking of Ethereum. This development has caused some to fear that the upgrade might bring forth a large selling pressure on Ethereum, due to the number of ETH that have been staked. However, according to CryptoQuant, an on-chain analytics platform, the selling pressure is likely to be significantly lower than expected.

CryptoQuant presented the evidence of their observations through their profit and loss analysis. They noted that the current Ethereum price is such that over half of the staked Ethereum (9.7 million out of 17.9 million) is currently at a loss. Hence, this makes it highly unlikely that the stakers will dump off the ETH on the market, as it wouldn't be financially viable.

Moreover, CryptoQuant also suggested that a significant portion of the Ethereum staked through Lido, the liquid staking solution, is also underwater. This further reduces the chances of the stakers selling off the ETH, upon the completion of the Shanghai Upgrade.

As per the records of Binance Research, the amount of staked Ethereum stands at around 16.5 million, which accounts for about 14% of the total supply. This gives us an idea about the potential impact of the Shanghai Upgrade on the price of Ethereum.

Overall, with the combined evidence of CryptoQuant and Binance, it is fair to assume that the Shanghai Upgrade won't bring about a significant selling pressure on Ethereum, unlike the worries that have surrounded it. This is good news for Ethereum, as it can help the market bulls push the price even higher. Ethereum is currently trading around 1,867 dollars at the time of writing and it looks to be on course for further gains.



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