Don't Look Now, but Ethereum Just Hit Its Highest Level in More Than 6 Months
The rally in the crypto sector is on. Ethereum (CRYPTO: ETH), the world's second-largest cryptocurrency by market capitalization, surged as high as $1,886 this morning, which marks its highest level since August 2022. As of 12:35 p.m. ET, this token has also recorded a 24-hour surge of 3.5%.
Ethereum's surge appears to be tied to renewed interest around a series of upgrades on the horizon for this network. Ethereum's upcoming Shanghai upgrade, which will update the network's execution layer and allow for staked Ethereum to be unlocked, is the key catalyst.
However, investors appear to also be pricing in upside tied to Ethereum's upcoming Capella upgrade, which will provide improvements to Ethereum's consensus layer.
Source Fool.com
