One week before the highly anticipated Shanghai update, Ethereum (ETH) continued its bullish performance and broke the 9-month price resistance.
With the upcoming Ethereum Shanghai update and the positive movements in the crypto money market recently, it has been 9 months old. $1,900 managed to break the resistance. Experts say that Ethereum, which is experiencing a strong rise, is a psychological resistance level. $2,000 waiting for it to arrive.
Ethereum this price finally 16 August 2022He had seen in , and at that time the Federal Reserve’s (FED) The decision to increase hard interest rates caused a decrease in all risk products, including cryptocurrencies. Ether, in this 9-month period $1,075 decreased to its level.
According to experts, the successful completion of all test phases on the way to the Shanghai update has been a factor that has had a bullish impact on the price of Ether in recent weeks. Ethereum developers are finally ready for Shanghai’s transition to the Ethereum mainnet. 12 April marked the date.
All three testnets to date for the Shanghai update have been completed without any problems. With Shanghai update Proof of Stake (PoS) Ether staked for the mechanism will become withdrawable by users.
Staking on the Ethereum network December 2020started in , and the amount staked since then is approximately 34 billion dollars reached. According to the information presented on Ethereum.org, the amount of Ether staked at the time of writing 17 million 971 thousand displayed as. According to the data, locked assets on Ethereum are currently roughly equivalent to the total supply of Ethereum. 14%makes up.
Experts, 14%Unlocking the coin supply on Ethereum a bearish price movement He believes he can trigger it. On the other hand, according to some experts, this amount is too small to cause a serious decrease and the cost of users who stake Ether in the process. $2,500 around, investors may not want to sell these assets at a loss.