Ethereum on verge of FUD? Will Shanghai Upgrade Boost ETH?

AdamG

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Armstrong's remark caused FUD in the cryptocurrency community since several well-known Twitter accounts fueled the flames. The news that the Kraken exchange has agreed to stop crypto staking in the US and has paid a $30 million punishment to the SEC has made the situation even worse.

Shanghai Upgrade

Ethereum Shanghai Fork Upgrade is set to introduce a bunch of critical updates and changes to Ethereum in the blockchain’s EVM functionalities. Prior to the actual release.

Impact of Staking Ban on Ethereum

Current news of SEC fines cryptocurrency exchange Kraken for offering unregistered securities through its staking program will impact the growth of Ethereum, especially with the much-awaited Shanghai Upgrade coming soon. The SEC’s investigations and potential new rulings could impact Ethereum negatively.

Despite this, the Ethereum network was still breaking records as of the time of publication, with more than 94 million non-zero addresses and over 527,000 ETH 2.0 staked addresses. If ETH finds steady rise in traders and investors, we can expect Ethereum price prediction 2023 to initiate on a bullish note. Which could drive in more alliances, adoptions, and investors. Wherefore, the price of ETH according to coinpedia could end the trade for 2023 at $1866.79.
 
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