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Recently, the Ethereum market has performed outstandingly, with its price breaking its recent high on May 5th, reaching $1945.During the same period, although Bitcoin remained volatile at a high point, it did not break a new high and its rise was significantly weaker than Ethereum.As of April 10th, ETH/BTC has risen by about 6.92% so far this month, reaching a maximum of 0.0679BTC, rebounding nearly 8% since March 20th.As of writing, Bitcoin has fallen below $28000, with a price of $27883 and Ethereum at $1830.The main reason why Ethereum has shown a strong upward trend and outperformed Bitcoin is due to the upcoming Shanghai hard fork upgrade on April 12th!Many experts believe that in the long run, hard forking is beneficial for Ethereum. up to now,The Shanghai craze helped Ethereum outperform Bitcoin in AprilCurrently, the positive signals surrounding Ethereum are evident:According to Glassnode data, the total value of ETH2.0 deposit contracts has just reached a 10 month high of $31601215618.82.According to data from the official website mainnet.beconcha. in of Ethereum, the total number of Ethereum pledges has exceeded 18 million ETHs, with a total of 18044134 ETHs pledged. The total number of Ethereum beacon chain validators has exceeded 560000.In addition, the Ethereum Beacon Chain ETH pledge APR (annual return rate) is 4.65%.L2BEAT data shows that as of now, the total lockup volume on Ethereum Layer2 is $9.17 billion, up 0.23% in the past 7 days. Among them, the largest lock-in volume is the expansion plan, ArbitrumOne, which is approximately 6.002 billion US dollars, accounting for 65.88%. The second largest lock-in volume is Optimism, which is 1.954 billion US dollars, accounting for 21.45%.The Ethereum Exchange showed a net transfer out status within 24 hours, with a net transfer out amount of 7.1344 million US dollars; Bitcoin experienced a net transfer phenomenon, with a 24-hour net transfer of $10.1 million.In addition to the good performance of data on the chain, the application scenarios of Ethereum are also constantly expanding, bringing hope for further breakthroughs in the market.Headquartered in Zurich, SwitzerlandFinancial bank IncoreBank announced that it will provide customers with Ethereum pledge servicesThe bank stated that customers using its Ethereum pledge service must fully comply with the "Know Your Customer (KYC)" and anti money laundering (AML) compliance requirements.Mark Dambacher, CEO of IncoreBank, stated that the bank will provide customers with Ethereum pledge services through quarantine wallets and comply with regulatory and tax regulations.However, although the Ethereum market is dominated by bullish sentiment, from today's market trend, the downward correction performance is still very obvious:Ethereum's price dropped as low as $1822 today, a daily decrease of 1.61%, while Bitcoin's price dropped as low as $27790, a daily decrease of 0.46%.Greeks.live macro researcher Adam tweeted that despite the upcoming upgrade in Shanghai, the implied volatility IV of Ethereum options has actually experienced a significant decline, with a drop of up to 8% in the past two days.He believes that the main reason for the decline in IV is the decrease in market liquidity caused by the Easter holiday. However, at the current level of volatility, it is abnormal for monthly IV to fall to the same level as Bitcoin, and a large number of users are adding positions to short the future volatility level.

Ethereum is the world's second largest cryptocurrency, and its recent rise has come to a sudden halt as Ethereum (ETH) has recouped all its gains after the highly anticipated Shanghai upgrade.Although many people have high hopes for this upgrade and promise to improve network speed and scalability, the market seems to have reacted negatively to the news

Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of MarsBit

Reported by Zhao Yi, Hu Jinhua, a reporter from China Times (www.chinatimes

Data: After the upgrade of Ethereum Shanghai, over 110000 ETH have been unlocked and extracted. According to the Etherscan page, there have been 112000 ETH unlocked and extracted after the upgrade of Ethereum Shanghai, with a value of approximately $218 million

The Ethereum blockchain is about to receive an important update on April 12th, namely the Shanghai Upgrade. The main purpose of this upgrade is to enable the extraction of Ethereum (ETH) already pledged on the Beacon Chain. Currently, over 17 million Ethereum coins are locked on the Beacon Chain, accounting for over 15% of ETH's total supply.How will this upgrade affect the price and market of ETH? We believe that from multiple perspectives, the upgrade in Shanghai is beneficial for ETH, for the following reasons:Enhancing the attractiveness of beacon chains Beacon chain is a core component of Ethereum's Proof of Rights (PoS) consensus mechanism, which enables Ethereum networks to be more secure, efficient, and environmentally friendly. Currently, to become a verifier of the beacon chain, at least 32 ETHs need to be pledged and cannot be extracted. For some users, this may be a high threshold and risk. After the upgrade in Shanghai, pledgers can freely extract their ETH and rewards, which will reduce the cost and risk of pledging, attract more users to participate in pledging, and increase the security and decentralization of the Ethereum network.Reduce the cost of second tier solutions