https://cryptoslate.com/will-26b-staked-in-eth-2-0-be-unlocked-and-sold-after-the-merge/Will $26B staked in ETH 2.0 be unlocked and sold after the merge?
Later this year 13 million ETH will be unlocked once Ethereum moves over to proof-of-stake leaving proof-of-work behind. Will this cause a sell the news event?
“there will be an exit queue which may take more than a year in the worst-case scenario or several months in a more realistic one. The release will be slow.”
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No matter how slow it is, $26B additional selling pressure is quite a lot IMO. Even now just 2 months before the alleged swtch to POS it is so big that eth/btc crashed 33% from the last top. This is especially discouraging for the miners who keep some stash with the hope that POS will bring more profits. I expect most of them to switch their rigs to ETC and, as in the first few years of ETH creation, to pump the price enough at some point to become profitable. 10x-50x increase (etc/
BTC) is doable for ETC in the next 3 years, and it will surpass anything that ETH can achieve from now on. In the last bear cycle ETH touched 0.016
BTC, now I can bet that it will fall at least to 0.03
BTC. May be ETH will survive another crypto winter, may be not. Terra is a good lesson why people must not trust some shady individuals with their money. Except for mining and converting to
BTC. That is how even the small home miners who started in 2016 with a single gaming gpu, are all millionaires now. So, overall, thank you Vitalik for this opportunity and farewell to your project!
