- The second largest cryptocurrency in the world surpassed USD 1,900 when the last time it reached this figure was in August 2022.
- The peculiar thing is that ETH has not increased at the same time as Bitcoin, since it has not increased, but it was due to the next update that its network will make.
- It is estimated that the Shapella update will take place on April 12 and will enable the withdrawal of staking funds.
Ethereum again crossed the threshold of 1,900 USD this Wednesday morning, a price that it had not touched since August 15 of last year, that is, 8 months ago.
In the last week, Bitcoin has not risen at all and Ethereum has (+5%), so the correlativity has been lost.
So what is the reason for the rise of ETH? According to analyst Miles Deutscher, this is because investors are taking an interest in cryptocurrency ahead of the Shanghai Update (Shapella).
This update would take place on April 12 and will offer the withdrawal of funds in staking. Since this is only a week away, it is possible that investors are excited and decide to move towards Ethereum.
This is not an unusual move for ETH as in 2022, before the Merge update, the price also jumped and after confirmation that everything went as expected, it crashed again.
At the time of writing this article, Ethereum was up 5.2% in the last week and stood at USD 1,905.