The price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has surpassed $1,900 for the first time in over seven months, with its tickers going down to $1,911. This latest development comes just a week before staking withdrawals are set to be enabled with the Ethereum 2.0 upgrade. Staked funds can be withdrawn, bringing more liquidity to the Ethereum network and improving ETH prices.
Ethereum is scheduled to undergo an upgrade on April 12
On the client side, Ethereum’s upcoming upgrade on April 12 has been given the codename Shanghai. Aside from improving user experience and scalability, these updates introduce new features. Despite some analysts and traders suggesting that the unlocking of staked Ether will cause a sell-off in the market.
Various experts have put forward their predictions, but no one knows for sure what will happen. Some anticipate that the sudden influx of Ether into circulation could lead to a temporary decrease in Ethereum’s price. However, others believe that this event could increase due to increased demand for cryptocurrency. Ultimately, only time will tell how this important event will impact Ethereum’s price.
ETH’s price has responded positively to the news of both upgrades. Above all, traders are eager for the potential improvements they could bring. With the Shanghai and Capella upgrades just around the corner, ETH looks poised to continue its upward trajectory.
