In the largest altcoin Ethereum, eyes are turned to the Shanghai upgrade, which is expected to take place on April 12.
Since the ETH staked will be unlocked after the Shanghai rise, analysts generally assess that this will create selling pressure on ETH and negatively affect the price.
However, Chris Burniske, a former analyst at Ark Invest, disagrees with other analysts regarding ETH price.
Because Burniske argues that unlocking staked Ethereums will reflect an upward trend in the price in the medium and long term.
Stating that he was surprised to discuss whether opening the locks in Ethereum will bring an increase, Burniske stated that this is a positive development rather than a bearish signal.
“I am surprised that there is a debate about whether or not hedging risk by allowing the staked ETHs to be unlocked will cause the price of Ethereum to rise.
And luckily the fact that there will be an uptrend is a question makes me even more optimistic."
I’m shocked it’s a debated question that *de-risking $ETH staking by allowing for unlocks* is bullish. And unfortunately for doubtoooooors, the fact it’s even a question makes me more bullish.
— Chris Burniske (@cburniske) April 3, 2023
According to Burniske, while unlocking ETH may seem like a bearish signal at first, the ability for investors to control their Ethereum themselves will bring ETH up in the medium and long term.
Apart from that, it should be noted that not all investors may sell their unlocked ETH. Because some investors may reinvest in other Ethereum-based projects or choose to hold their ETH in anticipation of a possible price increase in ETH.
*Not investment advice.