Ethereum Shapella Upgrade Crypto-asset Market April Impact
All You Need to Know
Second only to $547.44B Bitcoin market cap, Ethereum network market cap stands at $226.23B, and live trading price $1,889.13 with more than 50% gains year-to-date (at the time of this writing). Ethereum is a strategic, high-value, Turing-complete smart contract application implementation network with 36% decentralised application (d’app) largest market share. Therefore, its Shapella Upgrade completion event is certifiably primed for huge impact across crypto-asset market length, breadth and width April, and beyond.
The Ethereum mainnet hard fork event happens 22:27:35 UTC, April, 12, 2023. This biggest crypto-asset market April event completes Ethereum Proof of Stake (PoS) transition from Proof of Work (PoW). “Shapella” is a portmanteau from combining Shanghai—Devcon 2 event China city name, and Capella—Auriga northern constellation brightest star name first and last two syllables respectively. Ethereum consensus layer upgrade is named for Capella, while execution layer upgrade is named for Shanghai, plus the Engine API, and USD500,000 bug bounty, all entail Shapella Upgrade,
The upgrade, among others, will implement EIP-1559 for ETH network fee reduction, improve network efficiency through more scalability, security, performance, and thus boost Ethereum crypto-asset market price value by a projected 4%. After a successful upgrade, ETH hodlers—unlike validators who were able to exit last year—can withdraw staked ETH from across exchanges like Coinbase, liquid-staking solutions like Lido Finance, and stake more ETH, while not having to deal with another indefinite ETH lockup period anymore.
Shapella Upgrade Crypto-asset Market Price Value April Impact
Impressive crypto-asset price market performance prospect in April, as crypto-asset community market sentiments, trends and conversations among users, investors, traders and cryptonoobies alike resolve around Shapella Upgrade, with implications to trigger crypto-asset market demand interest surge resulting in increased demand for not only ETH, but as well as availing “moon potential” to smart contract-enabled tokens, liquid staking derivatives, other network apps, and cryptoasset market en bloc.
Though appears somewhat challenging to accurately quantify Shapella Upgrade crypto-asset market price movement impact April, because of factors such as volatility, itself informed by factors like developments in geopolitics and regulations, market trends, sentiments, and whatnot, it is a given that Shapella Upgrade crypto-asset market impact April overall cannot be discounted with modicum of success any.
Will Shapella Upgrade Affect Bitcoin Price?
Chief crypto-asset bitcoin market price value data history and charts are a big reveal that the asset every March weaves around bear territory. But with the still-unfolding, global fractional reserve banking system breakdown events, related general disturbances, slight contagion yet experienced in the crypto-asset sector, bullish April crypto-asset market prices offer great prospects with the Ethereum mainnet upgrade full impact a couple days away.
The Ethereum network upgrade has potentials to send bitcoin and altcoins market prices to the moon on the eve of the upgrade, and very much after the upgrade, if successful; meaning among others, the network remains stable after hard fork completion, and sans any incident report whatsoever.