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[PRESS RELEASE – Victoria, Seychelles, April 7th, 2023]
OKX, the world’s second-largest crypto exchange by trading volume and a leading Web3 technology company, today released the findings of a survey on the perceived market impact of the two-part Shanghai-Capella (a.k.a. Shapella) upgrade, which is slated for April 12 and will enable withdrawals of staked ether (ETH).
Key findings include:
- 83% of those surveyed expect that more ETH will be staked in the next three months
- 63% of respondents predict that ETH will hit a new record high of over USD5,000 by the end of 2023
- 79% of those surveyed expect ETH’s price to react differently to Shapella than the Merge*:
- 59% think it will keep increasing before and after the upgrade
- 20% believe ETH will move sideways
- 33% of respondents think ETH will be over its current six-month high of USD2,000 in June 2023, but still below its 12-month high of USD3,000
- 34% of those surveyed predict ETH at below $2,000, while 33% believe it will be at least $3,100 by June 2023
- 17.9 million ETH was staked as of April 5, 2023. This was equivalent to over USD34 billion. The APR investors earn on staked ETH is currently 4.65%, a figure that decreases as the pool of staked ETH increases.
OKX will begin processing withdrawal requests for staked ether within one week of Shapella going live, following the company’s completion of on-chain code audits to ensure customer safety.
The survey was conducted by OKX from March 1-5, 2023 with 700 ETH traders, investors, and network developers at the ETH Denver conference.
To learn more about OKX, please visit okx.com.
* ETH declined in price immediately before and after the Merge in September 2022
** https://ethereum.org/en/staking/
*** According to Coinmarketcap data for April 5, 2023
**** https://beaconcha.in/ethstore
About OKX
OKX is the second biggest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new financial and engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into Web3.
Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
To learn more about OKX, download our app or visit: okx.com
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
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