Over the past week, the price of ethereum has increased by around 20%, which has caused enormous ethereum short selling.
Dropping Ethereum trade volume could cause ETH price to decline prior to Shanghai upgrade Bets10 Mobil.
According to experts, Ethereum bulls are almost out of steam, and the price of the alternative coin may fall before the ETH Shanghai upgrade.
The second-largest cryptocurrency by market capitalization, ETH , saw increases of 21% over the previous seven days. Bulls are near to fatigue, according to experts, and traders with short positions may benefit before the Shanghai upgrade.
Experts think ETH short traders could make money as Ethereum trading volume decreases
Over the previous week, the price of ethereum increased by 21.3% as the cryptocurrency industry rebounded from the bear market. Bitcoin and ETH , the two biggest cryptocurrencies Bets10 Mobil, recovered all of their losses following the demise of Samuel Bankman-FTX Fried’s exchange.
Even if the price of Ethereum increased, trade volume decreased. According to experts, ETH bulls are almost out of steam, and a decline in transaction volume indicates that the recent advance for the altcoin is waning in intensity Bets10.
Up to January 4, traders holding an ETH short position made more gains. Since then, the price of ETH has steadily increased, reaching a seven-day high of $1,554. The two elements that could help traders who are short on ETH make money are the decline in trade volume and the daily activity on the network.
The Shanghai hard fork, which will be followed by a token unlock event, will occur as planned with regard to Ethereum development. For the first time since the contract’s debut in November 2020, ETH staked in the deposit contract will become unlocked.
At least 35,000 ETH will be unlocked/ unstaked and added to the circulating supply of the alternative coin. According to experts, this might boost the selling pressure on the commodity and decrease the value of the Bitcoin rival.