Ethereum Price Prediction: More Ethereum Recovery Before The Shanghai Upgrade
Ethereum Price Prediction News – The Ethereum (ETH) ecosystem tokens saw impressive gains as part of the crypto rebound. This could be due to the upcoming Ethereum Shanghai update, which could be launched in March 2023. The token behind Lido’s staking protocol, LIDO DAO, has seen a 60% increase in value over the past few days. This upgrade will allow traders the ability to untake their ETH assets. This is driving the increase in interest in the token.
Also read: Binance Completes Flare(FLR) Token Drop To XRP Holders
Rocket Pool (RPL), an Ethereum staking pool, also saw huge interest from traders. The RPL token has risen by $25.69, or 1.21%, in the 24 hours to the writing. The Shanghai upgrade will allow ETH withdrawals to be made on the Beacon Chain. This is a good sign that Ethereum (ETH) will be in greater demand during the period leading up to the upgrade. This is despite the fact that ETH prices have not risen as expected since September 2022, when The Merge was completed.
The ETH price is currently more bullish than it has the potential to fall from its current range. Numerous indicators point to potential upside in the cryptocurrency’s value. On chain data suggests that ETH is currently in the bottom range. The Ethereum exchange inflow has reached a peak in recent times. This is a clear indicator of price bottom.
The ETH price has yet to price in The Merge’s significant development. Overall, it is more likely that Ethereum will see a price rise from its current level. According to CoinGape’s price tracker, ETH is currently at $1327. This is a 0.50% increase in price over the last 24 hours.
Also read: Shiba inu (SHIB), 2nd in Most Secure Crypto Projects Report
About the author
The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.