Large part of the Ethereum community expects an all-time high this year

With the Shapella upgrade coming up for the Ethereum (ETH) network, many investors seem upset bullish to look at the further course of 2023. At least that is what OKX, the second largest global crypto exchange by trading volume, concludes in a recent research.

Ethereum strike expectations

The research carried out by OKX provides insight into the expectations of the community of Ethereum for the future of the network. The survey was conducted by the crypto exchange at the ETH Denver conference between March 1 and 5, 2023. A total of 700 people participated in the survey, including ETH traders, investors, and network developers.

First, most respondents expect an increase in network strikes over the next three months, driven in part by the upcoming Shapella upgrade. To be precise, no less than 83% support this theory. The Shapella upgrade is scheduled for April 12 and will allow users to withdraw their ETH from the staking contracts.

According to the research, a total of 17.9 million ETH had been staked on the network as of April 5. At the current ethereum price, that equates to more than $34 billion.

According to OKX, it plans to begin processing withdrawal requests for staked ETH within a week of Shapella’s launch.

New ETH all-time high in 2023?

In terms of price predictions, a whopping 63% of all participants believe that Ethereum will reach a new level by the end of 2023 all time high has put down. In November 2021, ETH hit its all-time high of just under $4,900. To set a new record, the ethereum price would have to rise by 162%.

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However, there is some disagreement among respondents about how the price will react to the upcoming Shapella update. 59% expect the price to continue to rise before and after this update and 20% expect a period of sideways movement.

When asked specifically about the price of ETH in June 2023, 33% of respondents expect it to be above the current six-month high of $2,000, but below the 12-month high of $3,000.

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