In the cryptocurrency industry, eyes turned to Ethereum’s upcoming Shapella update.
Ethereum’s upcoming update will allow withdrawal of staked Ethereum. However, big companies have different opinions about the effect of the update on the price.
JPMorgan and Fidelity Dispute About Shapella Update
JPMorgan and Fidelity are at odds over the impact of Ethereum’s Shapella update on ether. The Ethereum blockchain will activate withdrawals with the Shapella upgrade on April 12. Reports from JPMorgan and Fidelity offer differing views on the price impact.
Ethereum’s latest update will allow validators and users to withdraw their staked ether and any stake rewards accrued. This is why the Shapella upgrade is thought to provide access to over 18 million staked Ethereum. JPMorgan analysts said they expect Ethereum to likely face “some selling pressure” as more than 1 million worth of ether staking rewards are available for validators after the upgrade.
However, the researchers think the effect will go unnoticed. Ethereum’s native coin recently surpassed $1,900 and hit its highest level since last summer.
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