Cryptocurrency ether leapt more than 5% in early Asia trade on Friday as traders breathed a sigh of relief that a software upgrade this week ran relatively smoothly.
The second-biggest cryptocurrency by market capitalisation, ether rose to as high as $2,130.80, the most since May 2022.It had stoked fears of a selloff because it enabled investors to redeem tokens deposited on the blockchain in return for interest. Withdrawal"A lot of people were on the sidelines during the upgrade, and now that it has gone off without a hitch, everyone is jumping in," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital.
The price moved up sharply shortly after 0030 GMT, and helped pull larger cryptocurrency bitcoin almost 2% higher to a 10-month high of $30,923."With the upgrade, there was previously an expectation that there would be huge sell orders coming through. This didn't happen at all so every bid is moving the market."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Mover Asia: Ether Climbs Over $2.1K to Further Its Post Ethereum Shanghai Upgrade SurgeGood morning Asia, here's what's moving in markets: 1. ETH surged past $2.1K to build on its momentum after the Ethereum Shanghai upgrade. BTC is nearing $31.1K. 2. Columnist DanielGKuhn looks at Shapella's short- and long-term impact. by JPRubin23
Read more »
Ether Jumps Above $2K a Day After Ethereum Shanghai UpgradeEther continued its recent strength Thursday, climbing to $2,015 a day after Ethereum completed the Shapella upgrade. Institutional investors are watching the exit queue, one crypto markets observer said. _jocelynyang_ reports
Read more »
Ether’s Post-Shanghai Rally Knocks Bitcoin Dominance From 21-Month HighEther's recent surge after the successful deployment of the Ethereum Shanghai upgrade stalled BTC’s rising dominance rate on the crypto market. sndr_krisztian reports
Read more »
Bitcoin Slips Under $30K, Ether Staking Tokens Take a Beating Ahead of Shapella UpgradeCrypto traders likely took profits ahead of two key developers scheduled for Wednesday: The U.S. Consumer Price Index (CPI) for March, and the much-awaited Shapella upgrade for ethereum. By shauryamalwa.
Read more »
Here is What Analysts Are Saying About the Ethereum Blockchain’s Shanghai UpgradeAnalysts differ on the amount of ether selling pressure that could result from the Ethereum blockchain's Shanghai upgrade, scheduled for later today. By willcanny99.
Read more »
Crypto Analysts Split on Ether Market Trends After Ethereum’s Shanghai UpgradeSome market observers expect an ether price swoon after the Shanghai or 'Shapella' upgrade while others believe the market will bounce after the event in a classic “buy the news” move. LedesmaLyllah reports
Read more »