Crypto exchange OKX recently conducted a survey about the upgrade of Shanghai-Capella, aka Shapella. The study took place from 1er to March 5, 2023 at the ETH Denver conference. It was conducted among 700 Ethereum traders, investors and network developers. Respondents gave their thoughts on the impact the Shapella upgrade could have on the market. Remember that the latter aims to allow withdrawals of ETH staked. Here are the results of the OKX exchange survey.
Ether (ETH) staking could increase with Shapella!
A few weeks after Ethereum deployed Shanghai-Capella on the Sepolia testnet, OKX publishes the results of its investigation. It appears that 83% of respondents believe that ether staking will increase with the Shapella upgrade. They specified that this increase will be observed over the next three months. Meanwhile, 63% of surveyed crypto players expect a new high for ETH by the end of the year. They estimate that the second largest crypto by market capitalization will cross the $5,000 mark.
Moreover, according to 79% of respondents, ETH price will react differently to Shapella than to Merge. That said, 59% think there will be a price increase before and after the upgrade. For 20%, expect a sideways move in ETH. Meanwhile, 34% of respondents believe that the price of ETH will be below $2,000. 33% expect ETH to break above its current six-month high of $2000. The increase would take place in June 2023. The crypto is still expected to remain below its 12-month high of $3,000.
As of April 5, 2023, 17.9 million ETH have been staked. This amount of tokens is equivalent to more than 34 billion dollars. That said, the APR that investors earn on ETH staking is currently estimated at 4.65%. You should know that this rate decreases as the pool of ETH in staking increases. Meanwhile, the United States SEC is considering banning crypto staking. Also, Cardano founder Charles Hoskinson said in February that Ethereum staking should be banned.
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