Ethereum jumps to its highest price in 8 months ahead of highly anticipated network upgrade

Crypto markets have been on a tear despite murky macro conditions from the Fed’s rate hikes and turmoil in the global banking sector.

Highlights

Ether traded at a 24-hour high of $1,884, price levels not seen since August 2022.
The Shanghai upgrade is slated for April 12 and will mark the full transition to a proof-of-stake network.
The move from PoW to PoS network reduces energy consumption of the network by 99.9%.
The event will enable users to withdrawal their staked ether for the first time since the previous Merge upgrade in September.Crypto markets have been on a tear despite murky macro conditions from the Federal Reserve’s interest rate hikes and a slew of high-profile bank failures.
Bitcoin and ethereum jumped 67% and 49% in the past three months, respectively.

Read the original article