Midway through last week and following the successful implementation of the Shanghai and Capella upgrades to the Ethereum blockchain, the price of Ether (ETH) broke convincingly above the $2,000 level for the first time since May 2022.
In wake of last week’s major Ethereum blockchain upgrade enabling the unstaking of ETH tokens from the Beacon chain for the first time since staking was enabled in December 2020, the number of ETH tokens locked in the staking smart contract has continued to surge higher.
Ether (ETH) future short positions have been wiped out on mass in the last two days, as the world’s second-largest cryptocurrency by market capitalization defied the bears and rallied in wake of Wednesday’s highly anticipated series of upgrades to the Ethereum blockchain.
Ether (ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain, just surged above $2,100 for the first time since May 2022 amid positive post-Shapella update changes in the ETH supply.
After hitting its highest level in a little under eight months on Wednesday in the mid-$1,900s, Ether (ETH) is experiencing a modest pullback and was last changing hands in the mid-$1,800s.
The ratio between the open interest of Ether (ETH) put and call options jumped to its highest level since last May at 0.47 on Tuesday, according to data presented by crypto data analytics and news firm The Block.
Ether (ETH), the cryptocurrency that powers smart-contract-enabled Ethereum blockchain, hit its highest levels since last August on Tuesday close to $1,900, despite the network’s upcoming Shanghai upgrade that some have warned might trigger a price drop amid a “sell-the-news” event.
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Ethereum (ETH), the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain and the second most valuable cryptocurrency in the world by market capitalization, is in consolidation mode ahead of what has been touted as one of the most important Fed policy announcements in years.
The exchange rate between Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, and Ether (ETH), the world’s second-largest cryptocurrency by market capitalization that powers the Ethereum blockchain, has fallen rapidly in recent weeks.
The rate at which the Ether (ETH) supply is deflating, which has been accelerating in recent weeks, recently saw a spike higher. Ether is the cryptocurrency that powers the smart-contract-enabled Ethereum blockchain. ETH is the world’s second most valuable cryptocurrency by market capitalization and Ethereum is the dominant blockchain in Decentralized Finance.