Although Ethereum (ETH) price is bullish with great news, it continues to consolidate at the $ 460 level. It is known that the biggest factor suppressing the ETH / USD transaction pair is whether the amount of ETH required for the transition to Ethereum 2.0 will be reached. As of tonight, a great uncertainty will come to an end for both Ethereum and Uniswap (UNI) investors.
$ 1.1 billion worth of Ethereum to be released
In fact, the announcement that four Ethereum-based liquidity pools on the Uniswap exchange will be closed was made almost a week ago. It is known that more than 2 million ETH will be unlocked with the closure of four pools. So approximately $ 1.1 billion worth of ETH will be released as of tonight. There have been some who expressed their concerns about this issue, but also emphasized that this could actually be beneficial for both UNI and ETH.
Fidelitas Lex: It wouldn’t be surprising to see an increase in ETH 2.0 staking amount
Fidelitas Lex, one of the first names that come to mind when talking about “DeFi”, explained his views on this development. According to Fidelitas Lex, with the end of this campaign, a significant increase in ETH 2.0 stake amount and a decrease in selling pressure on UNI is likely.
According to Beaconcha.in data, the amount of ETH staked for ETH 2.0 as of press time is 96.032. So still 13,383 network validators (428,256 ETH) are missing. Considering that 1.1 billion dollars worth of ETH will be released as of tonight, even only 20% of these funds can set everything right for ETH 2.0.
However, it is not known whether investors will put forward their ETH for this development. The probability of this development reducing the selling pressure on UNI is quite strong. Investors were getting UNI for their funds locked in liquidity pools. It is known that most of them are sold instantly. The end of this liquidity campaign may open the door to a positive action for both UNI and ETH, as Fidelitas Lex has stated.
Many ETH investors have turned their eyes on this particular development, and even if the uncertainty will end alone will be a huge improvement.