It’s easy to think that launching Shanghai in the middle of a bear market could hurt the staking ecosystem. Stakers, skittish about the macro outlook of crypto in 2023, may choose to withdraw their ETH, keeping their assets liquid in case of more market turmoil. Cautious of regulatory movements against staking providers, new stakers may not rush to deposit funds the same as during the frenzy of a bull market.
Source: https://www.coindesk.com/consensus-magazine/2023/02/23/what-the-ethereum-shanghai-upgrade-will-mean-for-eth-liquidity/?utm_medium=referral&utm_source=rss&utm_campaign=headlines