Ethereum (ETH), the pioneer of altcoins, has reached its highest value in the last 7 months, pricing ahead of the Shanghai and Capella upgrade.
ETH, which broke the $ 1900 resistance months later, increased to $ 1925. With the excitement created by the Shanghai and Capella upgrade, ETH, which carried the altcoin market value, surpassed the $ 1900 resistance 7 months later, overwhelming crypto investors with joy. Data from Coinmarketcap shows that ETH surpassed $1900 in the last period before that, on August 16, 2022, when the US Federal Reserve raised the Federal Funds rate to a record high to combat inflation. With the excitement brought by the Shanghai and Capella upgrade, expectations are high in ETH.
High Expectations for Shanghai and Capella Upgrade
The Ethereum Shanghai Upgrade, which will take place on April 12, will enable EIP-4895, which allows validators and stakers to withdraw staked ETH from the token chain, in addition to other EIPs aimed at helping increase transaction speeds while reducing transaction costs.
With the recent price increase in ETH, expectations have also increased in many altcoins. The fact that ETH, the forerunner of altcoins, has exceeded $ 1900 in particular, may be an indication that buyers are superior in ETH trading technically and psychologically.
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