Ethereum's Shanghai Upgrade and Staked ETH Withdrawals Impact Crypto Market.

Crypto exchanges received a net inflow of 179,500 ETH, worth $375 million, in the four days after Ethereum's Shanghai upgrade went live, according to CryptoQuant. The largest four-day net inflow in a month, this indicates that traders are preparing to sell, which may lead to a price decline. Since the upgrade, some traders have sold ETH during the price rally post-Shanghai. Coinbase recorded $28 million more sell orders than buy orders, and Binance's upcoming withdrawal feature could result in more sell pressure for ETH.