Let’s keep this simple because, let’s face it, people really want to know one thing:
Will The Crypto Market Crash Because Of The Big Ethereum Thing Happening Tonight?
Let’s keep a lot of the lingo, jargon, and mumbo jumbo out and just highlight what’s going on. ✍️
In late November 2020, Ethereum 2.0 met the threshold of validators and staked ETH to begin the process of converting to a Proof-of-Stake network.
Now, just put yourself in the shoes of some of those validators and stakers who watched this happen:
You stake your ETH; you’re pumped for that yummy tasty delicious passive income. 😋
You’re waiting for The Merge – many people assumed that after The Merge, the staked ETH would be available to be unstaked.
You and everyone else realize you can’t get out until maybe the Shanghai update.
Then Ethereum keeps moving up for eight more weeks until the all-time high of $4,865.
From November 2020 to November 2021, you watched Ethereum gain more than +850%. That’s again of +$4,354!
And then, this happens 😱:
Your ETH is locked up; you’ve missed out on massive gains.
You can’t get out. You can’t withdraw. Your emotions have probably been on a rollercoaster. 🎢
It’s probably like watching a pet die behind a glass cage, and you can’t do anything to help.
Just ask yourself – would you, at the earliest opportunity, get out or hodl?
What we do know is that there can’t be a massive open sale of all the staked ETH. Why? Because unstaking will happen slowly and gradually with the express purpose of avoiding a massive collapse in price.
But let’s not speculate on something so volatile and so unknown yet, let’s just wait and see. 👀
When does the upgrade come out? You can follow it here. At the time of writing, around 1820 EST is when the fireworks begin.