🚨Urgent: Ethereum is close to breaking the $2,000 threshold, and the Mask coin is jumping by 6%🚨
🚨 Hello Crypto Banter community 🚨
The cryptocurrency market witnessed collective gains during these moments of trading today, Thursday, led by Ethereum and Elon Musk's favorite currency Dogecoin, which recorded the strongest gains among their peers.
Meanwhile, the value of Ethereum increased by as much as 6% to $1,983. This is after the Ethereum Blockchain, which is the most important and fastest system in the digital asset sector, successfully implemented the widely expected software upgrade.
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Ethereum upgrade
Investors were anticipating that the “Ethereum” network would undergo an upgrade, yesterday, Wednesday, which would enable users to withdraw tens of billions of dollars from its original encrypted token, “Ethereum”, in what is known as the “Shanghai development”, which is a necessary measure after the currency exchange turned The most important commercial digital in the world to become less electricity consumption in transactions.
However, the upgrade will allow investors to queue up to withdraw Ethereum coins they have staked to help run the network in return for rewards, a process called “staking” (which is to play your digital assets and earn income without selling them).
Tim Bico, who helps coordinate the development of Ethereum, said on Twitter on Wednesday that the upgrade is now "official."
According to research firm Coin Metrics; About 1.2 million ether, worth approximately $2.3 billion at current prices, is expected to be withdrawn over the next five days. Data from Staking Rewards shows that about $36.7 billion in ether is reserved for collateral.
Last September, the Ethereum blockchain system switched to a "proof of stake" system instead of "proof of work", via an update called "consolidation", which reduced the network's electricity consumption.
Ethereum, the largest digital currency by market value after Bitcoin, rose by 6.3% to $1,988, with a weekly gain of 6.2%, and a market value of about $238 billion.
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