ETH - 2 More Successful Upgrades Propelled Ethereum 4% Higher Today
2023-04-13 13:16:09 ET
Among the most-watched cryptocurrencies , Ethereum (CRYPTO: ETH) has certainly been more top of mind for investors this week than usual. That's because it just completed its Shanghai hard fork and its Capella upgrade -- a combined change that those in the crypto community also refer to as "Shapella." In the wake of those changes, the token's price had surged by 4.1% over the past 24 hours, as of 12:30 p.m. ET Thursday.
Ethereum is among the largest ecosystems in the crypto world that are tailored to developers of decentralized applications. Many of these applications, aimed at innovating in the financial sector, depend on the reliability and scalability of Ethereum.
Accordingly, several key upgrades have been ultra-important for investors in the world's second-largest cryptocurrency. Last year, The Merge successfully shifted the Ethereum network from an energy-intensive proof-of-work model to a much more energy-efficient proof-of-stake consensus model.
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2 More Successful Upgrades Propelled Ethereum 4% Higher Today