NewsletterEthereum Price Today: ETH Drops Despite Shanghai Upgrade Development
Ethereum Price Today: The market is trading in red today, as most of the significant coins see a decline. Investors are currently exercising caution when it comes to investing in riskier assets, primarily due to concerns surrounding mounting macroeconomic issues, which have been exacerbated by higher-than-anticipated inflation rates.
The global crypto market cap stands at 1.07 trillion USD, a decrease of 0.36% over the past day. The total crypto market volume in the last 24 hours increased by 28.36% and is currently at 45.38 billion USD.
Ethereum (ETH) decreases by 0.51%
The second largest crypto, Ethereum price today dropped by 0.51% in the last 24 hours. The market cap for Ethereum is 199.31 billion USD. Moreover, trading volume increases by 14.87% over the previous 24 hours. Each ETH token is trading for 1,628 USD, holding on to the support level of 1600.
Source: coinmarketcap
A step further to Shanghai Upgrade
The Sepolia testnet, Ethereum’s second test network, has successfully replicated withdrawals of staked ether (ETH), marking a significant step towards the highly anticipated Shanghai Upgrade for the Ethereum blockchain. This upgrade, which was triggered at epoch 56832, allows validators to withdraw their stake from the Beacon Chain back to the execution layer and introduces new features to the execution and consensus layers.
Once implemented, the Shanghai Upgrade will signify Ethereum’s complete transition to a fully functional proof-of-stake network, enabling validators to withdraw rewards earned from adding or approving blocks to the blockchain. The announcement of the live and finalized Shapella network on the Sepolia testnet was shared by Ethereum developers and clients on Twitter. The next upgrade will occur on the Goerli testnet, followed by the mainnet, ultimately finalizing the Shanghai upgrade.
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Tom Lee’s Fundstrat Warns Clients Bitcoin Could Fall to $60,000 Despite His ATH Public Forecast
- 125 Crypto Firms Mount Unified Defense as Banks Push to Block Stablecoin Rewards
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
