Despite some fears about a new Ether (ETH) offering hitting the markets after the highly anticipated Shapella upgrade, ETH broke above the $2,000 price point almost a day after the upgrade.
Data from Cointelegraph Markets Pro shows that the token entered the $2,000 level on April 13, the highest level reached since August. The increase comes after the successful Shapella update deployed at 10:27 pm UTC on April 12.
The update allows withdrawals of ETH wagered for users who previously had no way to get their funds back after the wager. Although a new supply of ETH hit the markets, suggesting a possible sell-off, the ETH price still managed to reach $2,000 and is currently holding the level as of this writing.
This is a developing story and more information will be added as it becomes available.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.