Ethereum's Upgrades Fail to Move the Needle on Price
TL;DR Summary
Ethereum's native cryptocurrency, ether (ETH), remains unchanged after the highly anticipated Shanghai upgrade, with trading around $1,914, up 1.1% versus 24 hours earlier. Analysts were divided on potential price action, with some predicting increased sell pressure from fresh supply while others believed it may become a psychological battle. Brent Xu, CEO of cross-chain decentralized finance (DeFi) protocol Umee, stated that he didn't expect a big decline for ETH or related LSTs in the near future due to the momentum being too powerful and institutions holding ETH and LSTs.
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