The Ethereum blockchain's Shanghai upgrade, or Shapella, is expected to unlock $30bn worth of ether locked in the network since the end of 2020. Some analysts expect an ether price decline after the upgrade as users liquidate their holdings, while others believe the expected uptick in selling pressure is already factored in and the market will bounce after the event. Henry Elder, head of decentralized finance at Wave Digital Assets, sees the upgrade as a "sell the news" event, while Sean Farrell, head of digital asset strategy at FundStrat, expects an ether-bitcoin rally following the completion of the event.

(By Lyllah Ledesma)