Ethereum Just Surged. Can You Guess Why?

TL;DR

• Following the successful execution of the Shanghai Upgrade, Ethereum’s price experienced a 6% surge, breaking the $2,000 mark.

• Ethereum is now not only the largest smart contract platform in the world – but it also has a fully operational staking program.

• Translation: Ethereum just became even more attractive to investors.

Full Story

Remember yesterday when we wrote about the Ethereum Shanghai Upgrade, and whether or not it would boost or drop ETH’s price?

Well, today we have our answer (we love a quick turn around time!).

Following the successful execution of the upgrade, Ethereum’s price experienced a 6% surge, breaking the $2,000 mark.

(Giving a much welcomed boost to our portfolios).

In total so far, 84,500 ETH (~$170M) was withdrawn from staking wallets…but judging from Ethereum’s elevated price – very little of it is being sold on the open market.

(Which is very cool. No selling, no price drop.)

So where does this leave us?

Well, Ethereum is now not only the largest smart contract platform in the world – but it also has a fully operational staking program.

Translation: Ethereum just became even more attractive to investors.

It was already the backbone of Web3, powering most of the decentralized apps (dApps) out there, and it’s already proven itself to appreciate in value over the years…

Plus, now investors can earn interest on their holdings over time and cash out whenever they please.

Not too shabby! Not too shabby at all.