Ethereum's steady uptrend post Shapella upgrade is whale driven, here's how
With this whale activity, the public's fears about a potential massive sell-off of Ethereum will not just be waved off but will also help reestablish a new scarcity through the locking of some of the tokens in circulation.
Ethereum has reestablished its stance as a protocol that is built both for utility and investment purposes. The ability to earn returns through staking has placed it as a favorite for top institutional investors outside the Web3.0 ecosystem.As it stands, Ethereum is about 57% below its all-time high of $4,891.70, and by its current outlook, retesting this high appears to be a matter of when, not if.
The digital currency is set on a pedestal that can attract more institutional funds, and by virtue of its robust ecosystem, the cryptocurrency is guaranteeing network stability that can handle the new range of utility that the versatile PoS protocol now embodies.
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