Ethereum Price Today: ETH Falls By 0.70% As Shanghai Upgrade Gets Delayed

The second largest crypto, Ethereum price today dropped by 0.70% in the last 24 hours. The market cap for Ethereum is 191.34 billion USD.

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Moreover, trading volume decreases by 3.31% over the previous 24 hours. Each ETH token is trading for 1,563 USD, holding on to the support level of 1500.

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The Shanghai upgrade which was all set to be executed by the end of March has been pushed further to April.

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The launch of the Goerli testnet, which serves as a thorough dress rehearsal for the Shanghai upgrade, is currently scheduled by Ethereum’s developers to take place on or around March 14.

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According to several analysts, the token unlock feature in Shanghai is expected to allow stakers to withdraw their vested tokens from Ethereum’s proof-of-stake smart contract.

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This may potentially lead to a short-term sell-off event which will make the price of ETH suffer.

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However, some analysts at leading exchanges think that there would be minimal selling pressure during the upgrade, and ETH withdrawals would be rate-limited.

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As crypto token is the future of currency, you should definitely seek assistance from a Crypto Token Development Company to benefit from it.

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