![Lido [LDO]: Ethereum’s Shanghai upgrade will impact the staking platform by…](https://i.headtopics.com/images/2023/2/25/cryptoamb/lido-ldo-ethereum-s-shanghai-upgrade-will-impact-t-lido-ldo-ethereum-s-shanghai-upgrade-will-impact-t-1629580745567002624.webp)
Lido [LDO]: Ethereum's Shanghai upgrade will impact the staking platform by...
in readiness for the potential liquidity migration. The upgrade will reportedly allow for new node operators as well as withdrawing from Lido at a 1:1 ratio.Since most of the locked ETH was staked as early as 2020, there are concerns that billions worth of the cryptocurrency will make their way into the market. However, LDO has experienced a surge in demand for liquid staking in the last six months. Hence, there is strong demand for staking services.
LDO experienced a bit of sell pressure this week, which was consistent with the sell pressure observed in the crypto market. Its $2.77 press time price represented a 16% pullback from its current monthly high, but despite this, LDO is still holding on to most of its recent gains.The lack of a stronger pullback is evident that there is not much sell pressure taking place. This is consistent with address flows on Glassnode.
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