A Full Ether Meltdown Might Be Looming On The Horizon Due To These Alarming Factors — Analysis
ETH FUD perhaps, but sometimes negative analysis is warranted.
Shanghai upgrade [due March 2023] will likely initiate a major ether sell-off due to the staked ETH withdrawals. There’s some $18.9 billion worth of ether currently staked with the network at press time, according to data aggregated on Dune Analytics.
Yep, looks obvious.
The author tries to end with a non-negative stance:
While it’s difficult to predict which way the market will move, some believe the positive change in ether’s tokenomics brought about by the Merge technological upgrade could ultimately help the cryptocurrency outperform bitcoin and the broader market once the FTX contagion ebbs and the macroeconomic conditions improve.
Perhaps. What I really dislike are the high fees and that one has no control over them, so that they could be ruinously higher for extended periods. Sort that out and I may use Ethereum, or its derivatives, more.
OK, let's have a balanced view:
Research: How Ethereum is gradually becoming a store of value
except it fails to mention the 12% of ETH staked and locked, hence they are NOT HODLing for fun.
I also wonder if, as everyone is looking at the ETH/BTC rates and a potential flippening, some third project will overtake them both!