Whales Selling Altcoins as Ethereum Shanghai Upgrade Nears: Fear of Crash

• Whales are selling altcoins as the Ethereum Shanghai Upgrade approaches.
• Blockchain Capital disposed of a large sum of LSD tokens and made a profit from the sale.
• Many investors are approaching the upgrade with fear, expecting a market crash.

Whales Selling Altcoins

As the Ethereum (ETH) Shanghai upgrade draws near, crypto whales have been selling off their holdings in altcoins out of fear-mongering that a possible market crash is imminent. Lookonchain recently highlighted the actions of Blockchain Capital, a major crypto whale, who disposed of a large sum of LSD tokens, including 65,352 RPL worth ($2.9M) and 1.5M LDO tokens worth $2.52M. The network now holds just about no LDO and 107,085 RPL ($4.52M).

Profit from Token Sale

Blockchain capital reportedly made a profit of $1.05 million from selling the LDO tokens and $1.09 million from RPL in preparation for the upcoming Shanghai Upgrade. Other major whales have also been deleveraging their market positions to reduce exposure in anticipation for any volatilities associated with Ethereum or altcoins that may arise when the update occurs on April 12th at 12:48 pm GMT +8 Beijing Time .

Fear Mongering

The cryptocurrency community has been experiencing some trepidation akin to what was seen during Mt Gox unlock when Ethereum developers announced the final date for Shanghai Upgrade on March 3rd leading to mass selloffs across altcoin markets as investors brace themselves for an expected crash due to uncertainties surrounding it’s effects on cryptocurrency prices .


Many stakeholders in the crypto landscape are acting in preparation for this upcoming event as there is still uncertainty surrounding its effects on market volatility and prices which leaves many traders speculating what will happen next . It remains unclear whether these events will lead to positive or negative consequences however many people are taking precautionary measures by realigning portfolios accordingly to minimize potential losses if anything should go wrong .

As Ethereum’s Shanghai upgrade quickly approaches , it is clear that many stakeholders in crypto markets are acting cautiously by either disposing or reducing exposure to altcoins due to fear-mongering regarding an impending market crash . Despite all this uncertainty , one thing is certain – whales have started selling off their holdings in anticipation for whatever comes next which could potentially lead to more volatility within cryptocurrency markets .

Similar Posts