“We expect 553,650 ETH will be sold. Amortized over 7 days, this amounts to approximately 1% of daily ETH volume (including spot and perpetual futures volume) of selling per day for a week,” analysts at Galaxy Digital said in a note published early this month. “Depending on the risk environment broadly and overall liquidity in Ether during the Shanghai upgrade, expected on Wednesday, April 12, we view this amount as ranging from inconsequential to slightly bearish ETH/USD.”
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