Within weeks, Ethereum’s Shanghai update will begin the process of unlocking 17.5 million staked ether worth $28 billion. Unavailable for withdrawal and unable to be sold currently, this supply will be slowly reintroduced to public markets and affect Ethereum’s price.

Ethereum’s official website says Shanghai could go live during the first half of 2023. Some experts believe the upgrade could activate as early as US tax day: April 15.

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