The second largest cryptocurrency in the world Ethereum (ETH), It debuted just a week before the highly anticipated Shanghai upgrade, raising over $1,900.
4.35% increase in the last 24 hours Ethereum It continues to trade at $ 1,911.
Evaluating this rise in Ethereum and the effects of the Shanghai upgrade Bernstein Analysts compared the latest rise to the rise in September.
According to the news of Coindesk, Bernstein analysts said that this rise is similar to the rise experienced in Ethereum before the Merge upgrade that took place last September.
ETHin the year 2023 from Bitcoin (BTC) Stating that it underperformed by 14%, analysts Gautam Chhugani and Manas Agrawal have now stated that ETH is booming ahead of Shanghai.
“Ethereum is preparing for the Shanghai upgrade scheduled for April 12. Because ETH is experiencing a great rise before the upgrade.
ETH also continues to appreciate against BTC.”
Investors believe that the supply of ETH will increase after the Shanghai upgrade and ETH Analysts, who stated that they were worried that there might be sales pressure on the market, said that this could be possible.
However, opening a parenthesis here, Bernstein analysts stated that the staking mechanism gives investors more confidence in staking, stating that investors who have never staked are now more likely to stake.
*Not investment advice.
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