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Ethereum (ETH)
Ethereum Prepares For The Shanghai Upgrade!
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[QUOTE="Heena Kousar, post: 277998, member: 91198"] As it is been a while that the second largest cryptocurrency by market cap, Ethereum has been stuck in a pump-and-dump trade. Despite the currency had managed to regain [B]$1,300,[/B] the bulls could not hold on the range for longer, this led to a crash. As mentioned in the[B] Coinpedia's Article,[/B] market participants had been eagerly awaiting the merger upgrade, and had expected impressive outcomes for the ETH's price. But, the event was successful, as a result [B]ETH[/B]'s price remained unaffected. [B]The Shanghai Upgrade Coinpedia[/B] has explained in detail about[B] "The Shanghai Upgrade"[/B], where the news outlet talked about the Ethereum development team that has made a fast move toward the Shanghai upgrade which is the next phase of the merge. To make user everything mover at a rapid pase, a testnet called[B] Shandong[/B] has been developed on the network. This testnet will watch an addition of several Ethereum Improvement Proposals before locking any final decision towards the Shanghai upgrade. Shanghai is one of the first of a [I]five-phase [/I]upgradation of the network which will see an introduction of sharding into the Ethereum network. The Sharding will improve the network's scalability in terms of data storage and other related mechanisms. Coinpedia also talked about the remaining four phases that will be seen after Shanghai is[B] Verge, Purge,[/B] and[B] Splurge[/B] which will occur in the next few years. At the same time, the data from DefiLlama claims that Ethereum comprises a [B]57%[/B] share of the[B] TVL [/B](Total Value Locked) which is across [B]$30B[/B] is expected to increase. On the other hand, the seven-day indicator displays that the active addresses have surpassed[B] 2 million[/B] claims Coinpedia. Therefore, [B]Ethereum[/B] is surrounded by positivity and bullish events. However, if ETH claims an upward movement, then the immediate resistance lies at [B]$1,300.[/B] But, if the bulls fail to accelerate upwards, then the currency might downfall below its support area of [B]$1,250. [/B] [/QUOTE]
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