Pledge withdrawal of ETH may face lower selling pressure
On March 2, the online data platform CryptoQuant released a report saying that after the upgrade of Ethereum Shanghai, the pledge withdrawal of ETH may face lo…
On March 2, the online data platform CryptoQuant released a report saying that after the upgrade of Ethereum Shanghai, the pledge withdrawal of ETH may face lower selling pressure. This conclusion comes from the profit and loss analysis of the pledged ETH. The analysis is based on two reasons: 1. Most of the pledged ETHs (60% or 10.3 million) are currently in a loss state (compare the current ETH price with the price of each ETH pledge); 2. The depositors of the average largest pledge pool are also in a loss state. Generally, when market participants are sitting on huge profits, there will be selling pressure, but this is not the case with the pledged ETH.
Report: 60% of the pledged ETH is currently in loss
Analysis based on this information:
The recent upgrade of Ethereum Shanghai has led to a decrease in the selling pressure of the pledged ETH. CryptoQuant, an online data platform, has come to this conclusion after conducting a profit and loss analysis of the pledged ETH. The analysis revealed that about 60% or 10.3 million of the pledged ETHs are currently in a loss state, as compared to the current ETH price and the price of each ETH pledge. Furthermore, the depositors of the largest pledge pool are also in a loss state. This means that despite the possibility of market participants sitting on huge profits and exerting selling pressure, the pledged ETH does not face similar selling pressure.
The result of this analysis is beneficial to those who have pledged their ETHs. It means that they can withdraw their pledged ETH with lower selling pressure, which is good news for them as they can recoup their losses. They can also sell their ETHs in the market without worrying about contributing to the selling pressure of the cryptocurrency.
On the other hand, this analysis may also impact the overall market price of ETH. Since the pledge withdrawal of ETH may face lower selling pressure, it can lead to a decrease in sell orders for ETH, which can result in a price increase for the cryptocurrency.
However, it should be noted that the effect of the Ethereum Shanghai upgrade on the overall market price of ETH is still uncertain. Market conditions, investor sentiment, and external factors can also impact the price of ETH, and this analysis only provides a limited interpretation of the situation.
In conclusion, the profit and loss analysis by CryptoQuant on the pledged ETH after the Ethereum Shanghai upgrade reveals that the pledge withdrawal may face lower selling pressure. This is good news for those who have pledged their ETH as they can recoup their losses with lesser selling pressure. Additionally, the analysis may also impact the overall market price of ETH with lower sell orders for the cryptocurrency.
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