.coinbase says Ethereum's successful Shapella upgrade supported better than expected price action for ether, which could continue through the end of April. By willcanny99
The successful upgrade of the Ethereum blockchain supported better than expected ether price action, which Coinbase says could continue through the end of April. The Shanghai upgrade allows validators to withdraw staked ether and rewards that have been locked up.
Firstly, the “majority of addresses receiving partial withdrawals have not spent their received rewards with around 70% of addresses now having properly set their withdrawal credential prefixes to 0x01,” analysts David Duong and Brian Cubellis wrote. Another reason why ether is appreciating is because of ETH’s relative underperformance versus bitcoin year-to-date, which has left a lot of room for catchup post the Shanghai upgrade, the note added.
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