Ethereum’s primary token, Ether is bullish today in the wake of the network’s Shapella upgrade. Many analysts and crypto enthusiasts expected a spike in volatility possibly impacted by the latest inflation data.

Yesterday’s Consumer Price Index (CPI) data showed inflation is easing in the United States and this could be the news that launches the next crypto bull run.

Ethereum price is trading at $1,985 on Thursday, growing by nearly 6% in 24 hours. The $239 billion crypto has for the first time since August closed in on the stubborn resistance at $2,000.

Ethereum Price Break Above $2,000 Imminent after Shapella Upgrade

The Ethereum Shapella upgrade went live during the Asian hours on Thursday. It was the most significant hard fork on the Ethereum mainnet since the Merge in September.

For the first time since Ethereum transitioned from a proof-of-work (PoW) mechanism, similar to Bitcoin’s network, to a proof-of-stake (PoS) consensus algorithm, investors can access their staked Ether and the rewards earned.

Staking refers to holding or locking up a certain number of crypto tokens in a smart contract as a way to support the network and validate transactions. In exchange for staking, users may receive rewards or incentives for their contribution to the network’s security and activities.

David Brickell, director of institutional sales at crypto liquidity network Paradigm like many other industry leaders, expected a “sell the rumor buy the fact” reaction to the Shapella upgrade but the event culminated in negative selling pressure likely to steady Ether’s uptrend above $2,000.

“ETH underperformed BTC with uncertainty around the upgrade and potential supply dynamic from the unlock,” Brickell said in a statement to CoinDesk. “Now the risk event has passed, no substantial selling pressure, the market can unwind short hedges and rebalance towards ETH.”

The uptick in price means selling pressure has been minimized by fewer liquidations. Although the Shapella upgrade allowed the withdrawal of staked Ether, it might take longer for investors to access the tokens.

Binance, one of the exchanges supporting Ethereum staking, said withdrawal requests may take up to two weeks and possibly several weeks to be processed.

Investors who staked through Binance will withdraw their coins based on a 1:1 ratio (BETH:ETH), starting April 19.

“The expected distribution date of redeemed ETH will be shown before users confirm their withdrawal requests. Users can refer to the most updated ETH distribution date at Staking History,” Binance in an earlier announcement on Thursday.

Meanwhile, Ethereum price is trading at $1,985 as bulls push aggressively to break resistance at $2,000 for the first time since August. The Moving Average Convergence Divergence (MACD) indicator adds credence to the bullish picture with the presence of a buy signal, sustained since March 12.

ETH/USD daily chart

Given that the seller congestion at $2,000 does not budge, investors may start to acclimatize to ETH pulling back to collect liquidity at $1,800, its nearest major support.

A break above $2,000 would change the technical perspective for Ethereum, as the next major target moves to $3,000.

According to Captain Faibik, a renowned analyst, Bitcoin’s dominance continues to print a bearish divergence in the daily time frame. If the bearish divergence holds, “it could signal the start of an altcoin bullish rally.” Faibik adds.

Ethereum could be on the brink of another breakout despite the altcoin season not having started, according to Mac, an analyst with over 392k followers on Twitter. He expressed confidence in Ethereum’s ability to outperform Bitcoin in the next couple of weeks.

Demand for unstaking Ether might remain moderate, as a bigger chunk of the tokens is buried in unrealized losses.

Withdrawal requests are mainly coming from Kraken, which is closing its staking service for all its users in the US, following the exchange’s settlement agreement with the Securities and Exchange Commission (SEC).

“More than 77% of the ETH withdrawn has come from the Kraken exchange, and most of the ETH taken out by validators elsewhere is from rewards, not from rewards plus the initial stake,” said Lewis Harland, portfolio manager at Decentral Park Capital, in a statement to CoinDesk. “This is more positive than the market might have expected.”

Buy Ethereum Now.

Ethereum Alternative Ecoterra Recycling Presale Hits $600,000 Milestone

Climate change is a big issue the world over but the green crypto ecosystem Ecoterra is all about changing the behavior toward recycling sustainably.

Ecoterra’s Web3 recycle-to-earn (R2E) is catching the attention of the crypto world with a fast-selling crypto presale that crossed the $600,000 mark on Thursday.

Although launched a couple of weeks ago, the Ecoterra presale is moving fast toward the next stage, where investors will buy 1 ECOTERRA token for $0.00475, $0.00075 higher than the current price at $0.004.

There are 5 days left before stage 3 begins, however, with FOMO (fear of missing out) spreading across the market, the $800,000 target might be achieved in just two days. Investors must hurry to take advantage of the current low price.

Ecoterra is a green cryptocurrency project incentivizing recycling to reduce our carbon footprint in addition to efforts made with activities around the sale and transfer of carbon credits.

As global plastic waste is predicted to increase tremendously by 2060, and the amount of plastic entering our environment is estimated to double annually, recycling becomes more critical than ever.

Recycling is an effective approach to reducing pollution hazards related to waste generation, decreasing both air and water pollution linked to manufacturing activities.

Ecoterra introduces an innovative recycling application that merges eco-friendliness with financial rewards through its Web3 Recycle-to-Earn program.

The blockchain-based startup encourages people to recycle by offering them ECOTERRA tokens as rewards to create an environment where proper waste management leads to monetary gains.

Ecoterra offers a user-friendly system where individuals can scan the barcodes of recyclable products, submit them to a nearby Reverse-Vending-Machine (RVM), and receive a receipt containing the details of recycled materials and amounts.

The recycling process concludes with users taking a photograph of the receipt using the Ecoterra app. This last step allows them to collect their rewards in ECOTERRA tokens via the Recycle-to-Earn system.

Top Brands Lineup To Join the Ecoterra Database

Ecoterra’s approach to recycling and the carbon offsetting marketplace is gaining traction as top brands join the database.

A week ago, Ecoterra began integrating items from well-known brand names like Vittel, San Pellegrino, Heineken, and Dr. Pepper into its record of trackable recyclable materials.

In a recent announcement, four more companies joined the ranks: Pepsi, Fanta, Peroni, and Evian.
Therefore, customers can now scan recyclable goods from these brands, such as plastic bottles and aluminum cans, using the Ecoterra app.

The Ecoterra app will then be able to verify and record the items as recycled materials and reward the users accordingly.

Reports suggest the environmentally-friendly project is attracting significant investments, particularly from Germany, where interest appears to be exceptionally high.

Investors Scramble For 150% Return On Initial Investment Ahead of Listing

Ecoterra will list on exchanges at $0.01, representing a 150% increase from its stage 1 presale price.
Experts and investors piquing interest in Ecoterra are looking forward to a profitable journey in the ecosystem, flaunting the most sustainable approach to climate change.

“We are over the moon with the surging interest in our project’s presale. Such impressive early traction is a welcome validation of our business model and vision,” CEO Mihai Ciutureanu, commenting on the latest developments, said. “It shows we are on the right track for mass adoption as we progress in rolling out the product roadmap for our growing community in the coming weeks and months.”

Investing in the discounted presale could be an excellent way to build wealth while supporting the project’s green initiative. FOMO is building fast with the next milestone at $800,000 expected in two days.

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