CEO of Labrys (Blockchain & Web3 Development) Lachlan Feeney feels that the Shapella hard fork will increase the amount of Ether staking in the medium to long term, which will only enhance Ethereum at the consensus level. He noted that early adopters wanted to liquidate after roughly 30 months of waiting for some, but he expects an Ether staking record to be reached in the future.
Meanwhile, the Head of Research at Matrixport, Markus Thielen, believes the shutdown of cryptocurrency exchange Kraken’s betting services may have resulted in higher numbers. He believes that Shapella will eventually bring more institutional investors to Ethereum, but he also anticipates that the favourable price action may moderate this week due to the increased pressure of selling.
The 1 million mark is a 500% increase from a projection made on April 11 by Glassnode, which anticipated that only 170,000 Ether were not staking after Shapella’s first week. Nansen, an on-chain analytics business, predicts that 1.4 million Ether will be drawn after the first days of Shapella.
