Ethereum Prices Stay Resilient After Successful Shappela Upgrade, Indicates Coinbase Research Report

According to reports, Coinbase stated in a research report that Ethereum’s prices have remained resilient since last week’s Shappela upgrade. The successful upgrade of the Ethereum blockchain has supported a better than expected price trend for Ethereum, which Coinbase suggests may continue until the end of April.

Report: Ethereum’s strong price trend may continue until the end of the month

Introduction

Cryptocurrency enthusiasts breathed a sigh of relief with the successful upgrade of the Ethereum blockchain last week. The Shappela upgrade has ensured that Ethereum prices have remained resilient and even surpassed expectations, says Coinbase in its latest research report. The report also speculates that this positive trend may continue until the end of April.

Ethereum Upgrade and Its Impact on Prices

The Ethereum blockchain underwent a crucial upgrade last week with the implementation of the Shappela upgrade. The upgrade has brought several changes, including improvements in transaction processing, gas fees, and contract storage costs. These changes have caused a positive impact on the Ethereum ecosystem, which has resulted in an increase in the number of active wallets and transactions. This increase, in turn, has led to a substantial rise in the value of Ethereum.

Coinbase Research Report’s Findings

According to Coinbase’s research report, the success of the Shappela upgrade has been the primary reason for Ethereum’s resilient prices. Ethereum’s price rose by over 10% post the Shappela upgrade, and the trend has been positive ever since. The report also suggests that Ethereum’s trend may continue until the end of April 2021. An increase in the number of daily active wallets and transactions has caused the supply to decrease, leading to a rise in demand, which has positively impacted Ethereum’s price trend.

Impact on the Cryptocurrency Market

The cryptocurrency market has been buzzing with activity ever since the news of Ethereum’s positive price trend emerged. Square Inc., a popular payment services provider, recently bought Bitcoin worth $170 million. Several other companies are following suit and investing in Bitcoin and Ethereum, signaling a positive trend for cryptocurrencies.

Possible Downsides

While the Shappela upgrade has been a resounding success, it does not rule out the possibility of future challenges. The upgrade has introduced changes that still need to be tested thoroughly, and there could be unexpected issues in the future. Additionally, competition from other cryptocurrencies, especially Bitcoin, could bring a halt to Ethereum’s positive trend.

Conclusion

The successful upgrade of the Ethereum blockchain has brought about several positive changes, leading to a rise in Ethereum’s value. The Coinbase research report indicates that Ethereum’s positive trend may continue until April 2021. However, it is crucial to monitor future developments and competition to come up with better strategies to sustain Ethereum’s growth.

FAQ

1. What is the Shappela upgrade?
– Shappela is a crucial upgrade that was implemented on the Ethereum blockchain recently, bringing about several changes and improvements.
2. What caused the positive trend in Ethereum prices?
– The Shappela upgrade has positively impacted Ethereum’s ecosystem, leading to an increase in active wallets and transactions, causing a decrease in supply and a rise in demand.
3. What are the possible downsides to the Shappela upgrade?
– The changes brought about by the upgrade still need to be thoroughly tested. Additionally, competition from other cryptocurrencies could impact Ethereum’s positive trend.