,” is almost here. The backward-incompatible hard fork will allow users to access some $30 billion worth of ether locked in the network since the tail end of 2020.
Henry Elder, head of decentralized finance at Wave Digital Assets, sees the upgrade as a clear “sell the news” event for ether and for governance tokens of liquid staking solutions like Lido, which have been rallying since early January in anticipation of the hard fork. Elder added: “Most withdrawals will probably come from early individual stakers who now want to rotate into liquid staking solutions, and early users of now dominant staking solutions who want to rotate into minority staking solutions to increase decentralization.”
According to Laurent Kssis, a crypto trading adviser at CEC Capital, ether has rallied ahead of the event and could come under pressure upon successful implementation of the upgrade.
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