Why did ethereum’s price go up today? Investors praise latest software update (ETH-USD)

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Apr. 13, 2023 4:08 PM ETEthereum USD (ETH-USD)By: Max Gottlich, SA News Editor

Dennis Diatel PhotographyInvestors drove up the price of ethereum (ETH-USD) to an eight-month high on Thursday after the network’s so-called Shanghai, or Shapella, upgrade Wednesday evening was marked as a success. At $2.01K as of 4:06 p.m. ET, ether (ETH-USD), up 5.4%, changed hands at its highest level seen since last August, extending its year-to-date rally to 65.8%. Still, the token has more catching up to do, off 35.5% from a year before, as the industry continues to digest a round of high-profile failures and ongoing macroeconomic headwinds. Ether’s (ETH-USD) intraday rally, accompanied by a slew of other major coins in the green, helped boost the global crypto market value by 2.6% to $1.26T, according to CoinMarketCap data. Dhierin Bechai, investing groups leader of ‘The Aerospace Forum,’ last month laid out his take on ether’s Shapella hard fork and the seemingly “downside risk on the staking rewards.”

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