- The total market value of all cryptocurrencies is getting closer to the $1.3 trillion milestone.
- The Shanghai hard fork went down without a hitch, calming nerves over the ETH upgrade.
Despite worries that fresh Ether supply may flood markets following the long-awaited Shapella upgrade. The market has responded positively to the news. After the Shapella update was finished successfully, the price of Ethereum skyrocketed to the $2,000 mark. In spite of increasing selling pressure brought on by the release of ETH tokens. The altcoin managed to break over the barrier level.
After the whole cryptocurrency market capitalization began to rise beyond $1.3 trillion. The Ethereum price broke through the crucial barrier at the $2,000 level. The price of Ethereum is expected to increase in the range of $2,400 to $2,800, according to market analysts.
Multiple Factors Driving the Price
Ethereum’s surge above $2,000 may be attributed to a number of factors, including a boost in crypto market capitalization, US PPI statistics, and Twitter’s cooperation with eToro to include crypto trading for users.
After Bitcoin’s spectacular surge to the critical level of $30,000, the total market value of all cryptocurrencies is getting closer to the $1.3 trillion milestone. The growing value of digital assets indicates that investors are becoming more bullish about cryptocurrencies like Ethereum.
Twitter’s relationship with eToro has made crypto trading possible, giving investors more faith in Bitcoin and altcoins like Ethereum. The Shanghai hard fork went down without a hitch, calming nerves over the ETH upgrade.
Moreover, after Shapella upgrade, just around one percent of staked ETH may be sold, according to a prediction made by crypto analytics company Glassnode on April 12. The company claims that just 253 customers have requested withdrawals of their staked ETH.