OKX survey finds 63% predict new record high of over USD 5,000 for ETH post-Shanghai-Capella upgrade

OKX has recently conducted a survey on the impact of the Shanghai-Capella upgrade on the Ethereum network. The findings of the survey were released on April 7, 2023, and they showed that a significant majority of those surveyed believed that more Ether (ETH) would be staked in the coming months, and that the price of ETH could reach new record highs.

The upgrade, also known as Shapella, is scheduled to take place on April 12, 2023. One of the key features of the upgrade is that it will enable the withdrawal of staked ETH, which had not been possible before. This has generated a lot of excitement among investors and traders in the Ethereum community.

The survey conducted by OKX included 700 ETH traders, investors, and network developers at the ETH Denver conference from March 1-5, 2023. The key findings of the survey were as follows:

  • 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 USD 5,000 by the end of 2023.
  • 79% of those surveyed expect ETH’s price to react differently to Shapella than to 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.

Currently, 17.9 million ETH is staked, equivalent to over USD34 billion. The APR investors earn on staked ETH is 4.65%, a figure that decreases as the pool of staked ETH increases.

OKX has announced that it will begin processing withdrawal requests for staked ETH within one week of Shapella going live, following the completion of on-chain code audits to ensure customer safety.

OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders. 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.

In conclusion, the OKX survey suggests that the Ethereum community is optimistic about the future of ETH, particularly with the upcoming Shapella upgrade. This could potentially lead to an increase in the number of ETH staked, and a surge in ETH’s price. Investors and traders will be closely watching the market in the coming months to see how these predictions play out.

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