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OKX Survey: 83% of Community Expects More ETH Staking Around Shanghai-Capella Upgrade, 63% See New Record High by End of 2023

OKX Learn

Published on Apr 07, 2023

Updated on Apr 25, 2024

2 min read

VICTORIA, Seychelles, April 7, 2023 — OKX, the world’s second-largest crypto exchange by trading volume and a leading Web3 technology company, today released the findings of a survey on the perceived market impact of the two-part Shanghai-Capella (a.k.a. Shapella) upgrade, which is slated for April 12 and will enable withdrawals of staked ether (ETH).

Key findings include:

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 USD5,000 by the end of 2023
79% of those surveyed expect ETH’s price to react differently to Shapella than the Merge(1):
- 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

17.9 million ETH was staked as of April 5, 2023(2). This was equivalent to over USD34 billion(3). The APR investors earn on staked ETH is currently 4.65%(4), a figure that decreases as the pool of staked ETH increases.

OKX will begin processing withdrawal requests for staked ether within one week of Shapella going live, following the company’s completion of on-chain code audits to ensure customer safety.

The survey was conducted by OKX from March 1-5, 2023 with 700 ETH traders, investors, and network developers at the ETH Denver conference.

ETH declined in price immediately before and after the Merge in September 2022
https://ethereum.org/staking
According to Coinmarketcap data for April 5, 2023
https://beaconcha.in/ethstore

Disclaimer

This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
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