Ethereum price is holding steady going into today’s Shapella hardfork, but noshitcoins says the real signal to keep an eye on are requests to unstake.
Using a meme, trader @CanteringClark is likely expressing dissatisfaction with the theory, but to invalidate the hypothesis, one must investigate potential reasons for ETH’s underperformance other than the much anticipated hard fork.
According to Paul Brody, EY's global blockchain leader, one reason for Ether's price underperformance relative to Bitcoin could be"the battle to keep Ethereum sufficiently and properly decentralized." Brody cites exchanges as Those ETH options bulls could come up empty-handed because 60% of their bets were placed at $2,000 or higher. As a result, if Ether's price remains between $1,800 and $1,900 on April 14 at 8:00 a.m. UTC, the outcome is balanced between call and put options. Furthermore, an expiry price between $1,900 and $2,000 represents a mere $100 million advantage for bulls, which is unlikely to justify the cost of a price pump.
Based on Ether derivatives, there is no reason to believe professional traders expect a significant price correction as a result of the staking unlock. Nonetheless, given the high transaction fees and declining DEX activity, the chances of a"buy the news" event are slim.
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