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Summary: Even if the long-awaited ETH2.0 main network is successfully launched, the price of ETH has dropped significantly with Bitcoin

Reporter | Si LinweiOn August 11th, the latest market data showed that the price of Ethereum had exceeded $1900, with a 24-hour increase of over 13%. The total market value of Ethereum has returned to above $220 billion, reaching its highest point since June 6th

Zhitong Financial APP learned that the Ethereum network will undergo technical transformation on April 12, allowing users to withdraw tens of billions of dollars of native token Ethereum. This is called "Shanghai" upgrade, and it is a necessary step for the consensus mechanism of Ethereum, the world's most commercially important cryptocurrency platform, to change from proof-of-work to PoS

In the context of large-scale sell-off in the broader hidden market, the price of eutum (Eth) has fallen below $2000, which seems to be a huge whale dumping ground. As of the time of publication, Etalum's stock price fell by 6

Ethereum prices have been in the range of $1800 to $1900 over the past week.The decrease in whale activity and the flat foreign exchange balance indicate a contemplative mood among ETH traders

In the past 24 hours, the price of Etalum, the second largest secretive company, has skyrocketed by 7% as its network has successfully completed the highly anticipated Shanghai hard fork. However, upgrades enable network participants to recover their bet funds

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

Bitcoin has plummeted again! As of 18:10 on January 24th, the price of Bitcoin has dropped below $34000 per coin, marking the first time since July last year. The past week has seen a drop of over 20%, and this year it has fallen by nearly 30%, almost halving from the historical high of $68928.9 in November 2021.Analysts point out that since the beginning of this year, the higher intensity of regulation by global regulatory agencies on cryptocurrency assets, including Bitcoin, as well as the strengthening expectations of the Federal Reserve's tightening monetary policy, and the widespread selling of US technology stocks, have been the main reasons for Bitcoin's sharp decline.Falling below $34000Coindesk

Bitcoin prices have started a new rise above the resistance level of $29000. If it significantly breaks through the resistance level of $30000, BTC may rebound

After rising by over $29000 on Thursday, Bitcoin prices fell to $27.5 million today

Bitcoin prices have experienced several sharp fluctuations above the fulcrum level of $28500. BTC is currently rising and showing positive signs above $28800

Bitcoin once again broke through the support level of $30000 today. The value of BTC has also increased by 9% in the past 24 hours