City Shanghai Financial News

Bitcoin (BTC) broke through $31,000 on April 14 as bulls hoped that altcoins would soon follow.

The Cardano price has risen by 8% in the past 24 hours, reaching $0.437258 after Ethereum's successful Shanghai upgrade boosted the cryptocurrency market as a whole.

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.

In this week’s episode of Market Talks, Cointelegraph welcomes Miguel Morel, CEO of Arkham Intelligence — a blockchain intelligence company that has built a platform that provides information on real-world entities and individuals behind crypto market activity.

Arbitrum (ARB) has emerged as one of the best-performing cryptocurrencies after Ethereum's long-awaited Shanghai upgrade.

The highly-anticipated Shanghai Upgrade, also called Shapella, which would enable the withdrawal of staked Ethereum [ETH] , was finally launched on the Ethereum mainnet. The event marked an end to a two-year-long wait for stakers since the locking of ETH was introduced in December 2020.

Despite some fears of a new supply of Ether (ETH) hitting the markets after the much anticipated Shapella update, ETH surpassed the $2,000 price point almost a day after the upgrade. 

The price of Ethereum's Ether (ETH) token came just a few dollars from hitting $2,000 a day after the launch of the network's long-anticipated Shanghai upgrade.

The price of Ethereum (ETH) has risen by 6% in the past 24 hours, with the successful rollout of the Shanghai upgrade pushing the altcoin to $1,984.

The much-awaited Shapella update on Ethereum has gone live, paving the way for new features such as the unstaking of Ether (ETH). Members of the community celebrated with various responses to the newest update in the Ethereum ecosystem. 

Bitcoin (BTC), the largest cryptocurrency, reversed its modest losses from the previous day and regained traction above the $30,000 level once more. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, broke through the $1,900 barrier and outperformed Bitcoin.

«Most cryptocurrencies witnessed a slight decline ahead of the US CPI data for March, which is set to be released today. Bitcoin was seen consolidating at the US$29,930 level after attempting a fresh increase and spiked above the US$30,450 resistance zone yesterday. The next support of BTC is near the US$29,400 level, and resistance is at US$30,250,» Edul Patel, Co-founder and CEO at Mudrex, said. «On the other hand, the whole crypto industry is looking forward to the long-awaited Shanghai upgrade which is set to go live today, allowing phased staking withdrawals,» Patel added. Other top crypto tokens were also trading lower. Tron declined nearly 5%. Meanwhile, BNB, XRP, Litecoin, Dogecoin and Cardano also traded with cuts. The global cryptocurrency market cap was trading lower around $1.22 trillion, falling 1.22% in the last 24 hours.

Ethereum [ETH], one of the leading blockchains in the cryptosphere, successfully integrated the Shapella upgrade. The Shanghai upgrade took place on Epoch 194,048 at block height 6209536 at 22:27 UTC.

Bitcoin [BTC] witnessed a price decline that pushed its price below $30,000. However, the downtrend was short-lived as BTC’s price again crossed the $30,000 mark. At press time, it was trading at $30,015.14 with a market capitalization of over $580 billion.

The Shapella hard fork has officially been executed on the Ethereum Mainnet — meaning that Ethereum validators can finally withdraw their staked Ether (ETH) from the Beacon Chain.

The Ethereum network’s planned Shanghai hard fork is nearly here. Planned for April 12, this is the first major upgrade since The Merge in September 2022. The “Shapella” upgrade (a combination of the two major proposals Shanghai and Capella), includes EIP-4895 which enables validators to withdraw staked ETH from the Beacon chain (Consensus layer) to the EVM (execution layer). The execution layer is the fun and friendly Ethereum users have come to know and love. 

Ether (ETH) price has increased by 58% year to date, but it has far underperformed the market leader Bitcoin (BTC). In fact, the ETH/BTC price ratio has dropped to 0.063, its lowest level in 9 months. 

The Ethereum network’s Shapella upgrade, scheduled for around 6:30 pm EST on April 12, has induced significant uncertainty among traders, according to a report by Kaiko. 

On April 12, Yuga Labs' ERC-20 token ApeCoin (APE) briefly surged to $90.00 from around $4.20 apiece on the South Korean cryptocurrency exchange Upbit before most gains were wiped out in a sharp sell-off. However, the token is still trading at $10.90 apiece at the time of publication, representing a significant premium of around $4.50 compared to other exchanges. 

Ether (ETH) unstaking, brought about by the Shappella upgrade, a service aimed at validators, is aiming to make staking easier by utilizing Application Programming Interfaces (APIs). 

The liquid staking sector, with $16.68 billion in TVL, now surpasses DeFi lending and bridges as the second-largest crypto sector according to Defillama data. The upcoming Ethereum Shapella upgrade, scheduled for April 12, has fueled existing interest: Liquid staking tokens, along with Ether (ETH) itself, see an increase in value as the upgrade date approaches.