I go over Ethereum and some formations I see quickly, as well as briefly touching on the upcoming Shagnhai update! Let me know what you think and if you have any chart requests!
@valerieye, I wouldn't say that but I appreciate the sentiment!
hardikpatel1648
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I think that Shanghai upgrade will help LDO and RPLa huge. Stakers will be able to unstake their ETH.While on its surface, this seems bearish, the risk of excess liquidity is overblown, and the net result will be a de-risking of staking, and the demand for staking ETH should increase. Further, since the risk of stETH (or any other LSD) de-pegging will be mitigated with the ability for redemptions enabled, we may see increased demand from institutions to utilize LSD providers like Lido and Rocket Pool.
Would love to hear back from you and also chart for LDO token.
Thanks
EBITDAtiger
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@hardikpatel1648, could you explain RPLa to me? I am still learning more about crypto and there is so much to learn. I'm not familiar with it. And sure thing! I can whip up a chart on the LDO token!
Do you want me to do it with the Binance exchange chart? and would you prefer USD or USDT?
I have never heard of that either but I will dive into it to decipher what the intermediate term trend is and what the long term trend is.
I agree about the increased demand from institutions but for another reason: it basically becomes a money market fund with actual volatility which some people have the risk tolerance for. For instance, they buy ETH, stake it, earn APY every 3-5 days with the potential of capital appreciation, and they no longer will be barred from withdrawing/selling that ETH.