Chris Burniske shows great optimism for the future of ethereum

In a recent Twitter thread, Chris Burniske, a partner at venture capital firm Placeholder, has expressed a quite bullish forecast for ethereum.

The ethereum Shanghai Upgrade is an optimistic development for ether investors, according to Chris Burniske. He believes that the fact that ethereum stakers can exercise control over their own assets is positive for the whole ecosystem.

The BR Capital fund creator, Rezo, expressed an opinion quite similar to this one on Twitter. The flexibility to stake and unstake ETH will positively impact the long run, as observed by Rezo. He thinks that the Shanghai Upgrade will enhance general trust in ethereum.

Experts agree that stakeholders will have more control over their assets after the ethereum Shanghai update, which is expected to be a key milestone for the entire ethereum community. Several market analysts have a favorable outlook on the long-term prospects for ethereum, even though the market has a degree of uncertainty and anxiety.

Ethereum, widely regarded as the preeminent platform for smart contracts and decentralized financial ecosystems, is getting ready to implement a big update to its network. The ethereum community will reach a significant new point of significance on April 12 when the ethereum Shanghai update goes live. 

This upgrade will allow speakers to withdraw ethers from the PoS beacon chain. As a result of this news, investors who are bullish on ethereum have seen a remarkable gain of fifty percent so far this year, according to statistics from TradingView’s market.

Traders of ethereum have an optimistic perspective as the first quarter ended. They anticipate that the Shanghai upgrade will cause more upward swings. 

Nevertheless, there is a concern that the staked ethereum may be sold on the secondary market. It could result in an increase in the total amount of pressure to sell. In addition, the price of ethereum has decreased by more than 61% since the beginning of the staking program two years ago.

Ethereum price today

As the Shanghai upgrade draws closer, the price of ethereum is currently trading at $1,822 as bulls try to grip the market. The asset has recorded a price increase of close to 1% as of presstime, with the trading volume surging by 28%, revealing the increased whale activity in anticipation of the upgrade.

Currently, over 561 thousand ethereum validators have wagered a total of approximately 17.9 million ETH. Experts anticipate greater volatility during the event; however, it is unknown how the market will respond to the upgrading at this time.