The value of the second most popular cryptocurrency, Ethereum, jumped on Thursday to a nine-month high at $1,908.95 amid expectations of the upcoming Shanghai update called Shapella. On April 12, the next Ethereum update or hard fork will take place, which will mark the completion of the full transition of Ethereum to the Proof-of-Stake network. According to analysts, the upcoming update will make the digital currency a more profitable long-term investment. After the hard fork, investors will be able to freely withdraw available assets. Now you have to use centralized crypto exchanges, such as Coinbase, or decentralized financial services, such as Lido, to withdraw funds. In total, ether has increased in price by 59% this year, and its main cryptocurrency competitor bitcoin – by 70%. However, a number of economists believe that Shapella will lead to a fall in the ether rate. This forecast is due to the fact that the update will unlock a large number of cryptocurrency tokens worth about $2.4 billion, most of which can enter the open market if investors arrange a sale of assets. As for bitcoin, the largest cryptocurrency by market value, it remains stable, trading at about $27 thousand.
