Ethereum is currently following the general crypto market trend at this point and has been posting only slight gains in the last 24 hours. With the bear market in full swing, a large number of cryptocurrencies remain at risk of losing more of their value. However, for Ethereum, there could be a bull trend on the horizon and it has to do with staking on the network. Shanghai Upgrade Will Drive Ethereum Up Currently, compared to the other Layer 1 proof of stake networks in the sector, Ethereum sees the lowest percentage of supply staked. At less than 14 of ETH supply being staked, it comes down to there not being a withdrawal mechanism for those who stake on the network but this could change very soon and bring with it renewed vigor to the market. Related Reading: Solana Leads Crypto Market Gains, How Long Will This Continue? The Ethereum “Shanghai” upgrade is expected to take place sometime in March 2023 and a Matrixport report shared with NewsBTC via email expects this to be a bull trigger for the digi ..
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