Ethereum Price Up For Another 31% Spike, ETH Price At $1700 In The Next 24 Hrs?

The world's first cryptocurrency, Bitcoin, is hovering between $22,000 and $23,000 level. In the early hours today, the flagship currency did surpass its crucial level of $23K before making a slight downfall. However, the overall crypto market is flashing a positive sign with Ethereum, XRP, BNB, Cardano, Solana and other major altcoins trading green.

Timeline of Ethereum

Litecoin ($LTC), a cryptocurrency that's often referred to as the silver to Bitcoin's gold, has been seeing its adoption explode, to the point that the total number of addresses on the network has now surpassed the total number of addresses on Ethereum ($ETH).

While the Ethereum community prepares for the upcoming Shanghai hard fork in March, the development team for the liquid staking project Lido revealed plans to create an in-protocol withdrawal feature. Lido's team is seeking community feedback on the proposal that would allow withdrawals after the Shanghai upgrade is completed. Lido Dominates Defi Economy With $7.

Ethereum price analysis is dictating a sudden decrease in price after an already rising bearish trend. The bearish momentum that is increasing is likely to be seen in the near future, as the bulls remain sluggish at this point.

After what has been two weeks of an incredible rally for the price of Ethereum, the digital asset seems to be running out of steam. ETH's price has now declined once more below $1,600 after a sharp downturn on Tuesday.

Key Points: The Lido team put up ideas for how the protocol should handle ether withdrawals when Ethereum's forthcoming Shanghai upgrade has been turned on. The Lido team put forward its designs to the Lido DAO, the project's form of governance, via a post on the community's forum.

Bitcoin (CRYPTO: BTC) traded lower this morning, but the cryptocurrency prices remained above the key $22,000 level on Wednesday. Ethereum (CRYPTO: ETH) also recorded losses, falling below the key $1,600 mark on Wednesday.

Despite having pulled back now more than 7% from its recent highs last week around the $1,680 area, Ether (ETH), the cryptocurrency that powers the Ethereum blockchain, is still up close to 18% in the last two weeks. Ethereum is the most popular and well-known smart-contract-enabled decentralized layer-1 blockchain protocol, with its native Ether cryptocurrency the second most valuable cryptocurrency by market capitalization after the world's first cryptocurrency Bitcoin.

Ethereum Shadow fork Goes Live: Users of the world's second-largest blockchain, Ethereum, are one step closer to accessing the $26 billion worth of ETH. On Monday, developers of Ethereum said they have deployed the first mainnet shadow fork in preparation for the Shanghai upgrade in March.

The number of validators on the Ethereum [ETH] Proof-of-Stake network surpassed 500,000, according to data from Glassnode. This milestone comes ahead of the scheduled upgrade for the Shanghai network, set to take place at the end of the first quarter of 2023.

There is no marked shift in the number of new addresses depositing the required 32 ETH, the minimum amount required to be deposited into the Beacon Chain for holders who wish to operate a validator node, into the official Beacon Chain Deposit Address ahead of the Shanghai Upgrade on Ethereum. The Shanghai Upgrade is scheduled for March 2023 and this hard fork will allow stakers to unlock ETH locked in the Beacon Chain.