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Why is Ethereum (ETH) price up today?
Ethereum (ETH) is witnessing a price breakout on the back of the successful Shanghai and Capella (Shapella) upgrades. The increased bullish sentiment after the upgrade led Ether price to hit a year-to-date high of $2,123 on April 14.Ether price and sentiment dashboard. Source: Cointelegraph Markets ProThe Ethereum decentralized finance (DeFi) ecosystem received more daily fees, growing 30% in 24-hours on April 14 in tandem with Ether’s price growth. With the increase in Ether fees, the Ethereum proof of stake (PoS) token economics have turned deflationary and revenue is up 32% in the past 24-hours. Ethereum network fees and revenue. Source: TokenTerminalAlthough the Ethereum network is showing positive momentum, regulators are trending toward taking swift action against the crypto sector. Debates on whether Ether is a security token under the Howey test continue combined with privacy concerns that an Ethereum researcher says staking reveals IP addresses. Let’s review a few of the reasons for Ether’s newfound strength. Ethereum Shanghai was a successThe long-awaited Shapella upgrade was officially executed to mainnet on April 12.The Shapella hardfork was first slated to commence on March 14. At the time, on-chain data suggested the Shanghai hard fork would not bring massive sell pressure, yet some analysts believed the newly unlocked supply would hinder Ether price.The
usaorbit.com/news/crypto-currency/why-is-ethereum-eth-pri...
Why is Ethereum (ETH) price up today?
Ethereum (ETH) is witnessing a price breakout on the back of the successful Shanghai and Capella (Shapella) upgrades. The increased bullish sentiment after the upgrade led Ether price to hit a year-to-date high of $2,123 on April 14.Ether price and sentiment dashboard. Source: Cointelegraph Markets ProThe Ethereum decentralized finance (DeFi) ecosystem received more daily fees, growing 30% in 24-hours on April 14 in tandem with Ether’s price growth. With the increase in Ether fees, the Ethereum proof of stake (PoS) token economics have turned deflationary and revenue is up 32% in the past 24-hours. Ethereum network fees and revenue. Source: TokenTerminalAlthough the Ethereum network is showing positive momentum, regulators are trending toward taking swift action against the crypto sector. Debates on whether Ether is a security token under the Howey test continue combined with privacy concerns that an Ethereum researcher says staking reveals IP addresses. Let’s review a few of the reasons for Ether’s newfound strength. Ethereum Shanghai was a successThe long-awaited Shapella upgrade was officially executed to mainnet on April 12.The Shapella hardfork was first slated to commence on March 14. At the time, on-chain data suggested the Shanghai hard fork would not bring massive sell pressure, yet some analysts believed the newly unlocked supply would hinder Ether price.The
usaorbit.com/news/crypto-currency/why-is-ethereum-eth-pri...