Can Ethereum Price Holding Above $1,600 Open Road to $2,000 in Week Ahead?
On January 22, the second leading cryptocurrency, Ethereum, opened the day at $1,626.68. It has reached the maximum value of $1,635.64 and the lowest value of $1,609.35. ETH/USD is trading at $1,625.85, down by 0.84% in 24 hours. Moreover, the price has increased by almost 5% in a week.
The number of Ethereum addresses with a balance greater than zero is steadily increasing. According to Glassnode data, Ethereum reached a new all-time high of 92.5 million addresses this week.
The number of unique addresses transferred as a recipient or sender is represented by active addresses. It only includes those who completed a transaction successfully.
Recently, there has been a significant increase in the number of active addresses on Ethereum. It indicates that Ethereum users are running programs on the network rather than simply holding them in their wallets.
As Ethereum network activity and usage reach new all-time highs, ETH/USD may benefit.
The Shanghai Upgrade, the next scheduled Ethereum blockchain update, will take place in March 2023. The upgrade will make it easier to gradually remove the more than two-year-old stale ETH from the beacon
All indications are that Shanghai will be ready to launch in March. However, a vocal minority of Ethereum's core developers has recently begun raising concerns about the rushed implementation of the upgrade.
They said that it was being put into place too quickly to avoid a backlash from the public and at the expense of technology investments that could hurt the network in the long run.
Micah Zoltu, a network core developer, and a few of the network's other 30 or so core developers are concerned that a recent decision to forego a technical change to Shanghai may expose Ethereum to excessive
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