16 Million Ethereum Worth $26B Eligible For Dump Starting March 2023
- Lark Davis warns users of $26 billion worth of Ethereum available for the dump.
- More than 16 million Ethereum will unlock after staking in March 2022.
- Davis adds that if holders decide to sell the coins, its a good opportunity for buyers.
YouTuber Lark Davis released a video warning users that 16 million Ethereum tokens worth over $26 billion will be eligible to be withdrawn and dumped on the market, from March 2023 onwards.
However, he adds that all the coins will not be unlocked at the same time. Similarly, while many are looking forward to gains from selling, Davis declares that not all Ethereum holders will be likely to sell or dump either.
He shares that ETH was valued at $600 at the time of staking. However, it would take all of the Ethereum validators almost a year to exit if they wished to due to the daily limits. Moreover, Davis announces that over a million coins will be unlocked in 3 weeks after the unlocking starts, as part of the staking reward.
According to Davis, if holders decide to sell instead of staking after the unlocking goes live, it will propose a good buying opportunity for crypto investors and traders.
Staking, as defined on …
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