Sign Up on MEXCAhead of Ethereum Shanghai Upgrade, ETH Reaches Huge Milestone
Ethereum Shanghai Upgrade: While Ethereum (ETH) price continues to follow an upward curve since the onset of 2023, the community is looking forward to the Shanghai upgrade. The developers have recently dropped the news of preparedness for the upgrade’s launch in March. The upgrade will mean that the staked Ethereum will be open for withdrawals. Meanwhile, the number of staked ETH hit a major milestone on Monday, along with the number of active Ethereum validators.
Also Read: Shiba Inu Becomes ETH Whales’ Largest Holding Ahead Of Shibarium Launch
In this context, the Lido DAO token (LIDO) price saw huge gains in the recent past. The Ethereum liquid staking protocol benefitted with the anticipation around Shanghai upgrade. Compared to the $1 price range it maintained until the end of 2022, LIDO had recently doubled to around $2.10 currently.
Ethereum Active Validators At Half A Million
Ahead of the Shanghai upgrade, the ETH staked reached a major milestone. Ethereum had hit 500,000 validators whereas the total ETH staked reached 16 million figure. While the recent price recovery in the crypto market translated into rise in ETH price, the cryptocurrency could be in for further rise ahead of the upgrade. As of writing, ETH price stands at $1,544, up 0.70% in the last 24 hours, according to CoinGape price tracker.
Also Read: Bitcoin Price Moving To $65K? Here’s What On-Chain Data And Analysts Suggest
Meanwhile, technical indicators suggest that the next level of price resistance for ETH could be found at $1,650. In the current rally seen since the New Year’s, the coin rose to a high of $1,573. While the previous resistance of $1,500 has been broken, it remains to be seen how long the cryptocurrency will take to breach the next resistance level. In the lead up to the Shanghai upgrade, it appears there is high chance of ETH breaking the resistance level.
- Grayscale’s XRP, SOL, ADA Fund To Begin Trading Tomorrow Following SEC’s Greenlight
- Donald Trump Petitions Supreme Court To Remove Fed Governor Lisa Cook
- Pi Coin Rises As Pi Network Implements Protocol v23 on Testnet
- Tether-Backed Plasma Stablecoin Blockchain Set to Launch on September 25
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
