Ethereum is a step closer to its next major upgrade dubbed Shanghai amid the deployment of a new feature as “account abstraction”.

Ethereum launched its Beacon Chain in 2020 and advanced to become a Proof-of-stake network with over 17 million ETH staked on it. This means that users have not been able to withdraw these assets. But, as the Shanghai upgrade approaches, which is slated for March, stalked ETH will finally use these assets.

Further, the Ethereum merge had a significant impact on the stake of stakers. The staking returns have improved from 1% in Q3 to 6% in Q4 last year.

According to cryptoquant, ETH’s MVRV ratio was bit positive. This suggested that most holders of Ethereum would not be making significant profits if they sold their ETH at press time. Participation of retail investors on the selling side increased. And, historically once the crowd started to liquidate their holdings more frequently at a loss, bottoms are likely to happen soon.

MVRV ratio for Ethereum remained positive despite a heavy sell-off in recent times. In addition, Liquid staking protocol Lido Finance initiated a protocol safety feature called “staking rate limit” after more than 150,000 ETH was staked with the protocol in a single day.

Lido holds almost 30% of all staked ETH at an average loss of nearly $1,000. The staked ETH has an average loss of 24%.

So, the reason for not much selling pressure in the ETH could be linked to the currency loss in the staked ETH, as genearllly selling pressure occurs when users have extreme profits.

In addition, the Ethereum blockchain comes up with new feature know as “ account abstraction”. With this users can recover crypto if they lose private keys to an online wallet.