Several experts, including Messari research analyst Kunal Goel and IntoTheBlock head of research Lucas Outumuro, believe the Shanghai upgrade will make staking Ether more attractive despite the sell-off risks of unlocking a large chunk of Ether’s supply.
Meanwhile, a rise in Ethereum’s richest addresses is already underway by entities called “sharks” that hold anywhere between 100 and 10,000 ETH. The number of sharks has grown by 3,000 since November 2022, according to data from Santiment.