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HomeNewsWill Ethereum (ETH) Shapella Upgrade Trigger a Selloff or Bull?

Will Ethereum (ETH) Shapella Upgrade Trigger a Selloff or Bull?

## **Will Ethereum (ETH) Shapella upgrade trigger a sell-off or a bull run?** The upcoming Shapella upgrade for Ethereum (ETH) is set to introduce several new features to the network, including the possibility of users withdrawing their staked ether which could result in the sale of around 1.3 million ETH, totaling around $2.4 billion. Most of this is to be expected from the bonus withdrawal, with an estimated 1.1 million ETH sold. Additionally, the report suggests that around 158,000 ETH could be sold as part of bankruptcy proceedings against collapsed crypto lending platform Celsius. This could put downward pressure on ETH prices, especially if they are sold in bulk. ## **Over 70,000 transferred to the exchange, why?** In one of the Twitter posts posted earlier today, Lookonchain noted an Ethereum whale with the address “0x8033” ” transferred 75,311 ETH worth $144 million to Bitfinex Exchange Hot Wallet. The whale’s move to send ETH is still unknown, however, it could be a sell-off.

Source: Collector



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