Ethereum’s (ETH) most recent upgrade has been one of ups and downs. While it was initially a success and increased the number of individuals staking Ethereum, the token’s value has decreased. In the last seven days, Ethereum is down by 0.49%, while projects like Collateral Network (COLT) have seen a 40% surge.
Ethereum (ETH) Remains Stuck Behind A $2k Barrier
Ethereum, the second largest cryptocurrency in the world, has recently been praised following the success of its Shapella Upgrade. However, the project remains stuck behind a $2k barrier, which it hit on the 6th of May. After increasing to $2006.51, Ethereum crashed to $1883.77.
Ethereum (ETH) has since decreased further, with a price decline of 0.64% in the last 24 hours. At the time of writing, Ethereum was selling at $1,841.30, with analysts having mixed views as to whether or not it will rise again in May.
While some analysts believe Ethereum could quickly bounce back, others have doubts due to the recent spike in Ethereum trading fees, which rocketed due to meme coin trading.