– ETH holders have made good profits but the hike could lead to a correction.
-Massive liquidations hit shorts.
Before the success of Ethereum’s [ETH] Shapella upgrade, there were doubts as to the cryptocurrency’s price action to the development. Expectedly, a number of investors were of the view that the price would drop since validator withdrawals ran into billions of dollars.
How much are 1,10,100 ETHs worth today?
But the market dynamics surrounding ETH’s trajectory changed from the reaction when the blockchain switched to Proof-of-Stake (PoS). This time, the price increased, and the altcoin’s 24-hour performance was a 9.77% uptick, bringing the value to trade above $2,100.
Grand slam win for the red?
However, the rise in price might not be a guarantee that ETH was ready for an exponential rally. Santiment, based on its 13 April market insight, noted that there was still heated combat between bears and bulls.
Notably, it was important to mention that the outcome of breaking the $2,000 resistance was a jump in the daily on-chain transaction volume in
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Author: Victor Olanrewaju
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