Former Ark Invest Encryption Director: It is expected that more ETHs will be locked after the upgrade in Shanghai
According to reports, Chris Burniske, a former Ark Invest encryption director, posted a message on social media aimed at alleviating Ethereum holders’ concerns about the impact of Shanghai’s activation on the token economy. The Ethereum community believes that the upgraded market in Shanghai will release a large amount of ETH, which will affect prices. However, Chris Burniske said that the Shanghai upgrade will help Ethereum pledge “de risk”, because at this stage, ETH pledge is still in its infancy, with only 15% of ETH pledged. After the Shanghai upgrade, it is expected that more ETHs will be locked. The amount of ETH locked in pledge contracts may increase by 100-300% in the coming quarters, so there will be no panic selling.
Interpretation of this information:
Former Ark Invest encryption director Chris Burniske recently took to social media to assuage concerns of Ethereum holders regarding the impact of Shanghai’s activation on the token economy. There has been speculation within the Ethereum community that the Shanghai upgrade will lead to the release of a significant amount of ETH, which could affect the token’s prices. However, Burniske believes that the Shanghai upgrade will actually help reduce the risk associated with Ethereum pledge.
According to Burniske, the current ETH pledge market is still in its infancy, with only around 15% of ETH currently pledged. The Shanghai upgrade will likely result in more ETH being locked into pledge contracts, potentially increasing the amount of ETH locked by 100-300% over the next few quarters. This increased lockup of ETH in pledge contracts will help reduce the risk associated with Ethereum pledge, as more ETH will be tied up and not available for panic selling.
Burniske’s message provides some much-needed reassurance for Ethereum holders who may be concerned about the potential impact of the Shanghai upgrade on ETH prices. By suggesting that the upgrade will actually help reduce risk in the Ethereum pledge market, Burniske is helping to calm fears and potentially prevent panic selling.
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