The Ethereum price is on the rise, having reached $1,530, and it’s set to surge as the Shadow Fork of the Mainnet looms. This fork will likely give the blockchain network a lot of new features and improvements, which could make it more valuable. As more users become aware of these changes and their implications, the demand for Ethereum will likely increase, driving up its price.
With this in mind, it’s important to pay attention to what’s happening in the Ethereum market and consider how it might affect your investments.
Ethereum DevNet 2: An Overview Of The Latest Mainnet Shadow Fork Ahead Of Shanghai Release
Ethereum recently released “devnet 2”, a developer network for facilitating the Shanghai upgrade. This will assist client teams get ready for the update more quickly and smoothly.
Devnet 1 was initiated by developers in November last year and it wasn’t until January 11 this year that the second version of Devnet, Devnet 2, was made available. This information was shared during the most recent Ethereum consensus layer (CL) meeting by Ben Edgington – product lead of the Teku client team.
ETHEREUM NEW DEVELOPER NETWORK
In anticipation of the upcoming Shanghai upgrade, Ethereum has released a new developer network.
Called "devnet 2" and will help teams to prepare for the Shanghai upgrade.
Additionally, a shadow fork looks to be implemented soon too. pic.twitter.com/5KnbiKRLXp
— Starclaw59.eth (@starclaw59) January 13, 2023
The devnet is all set to test and search for software bugs in the Shanghai upgrade, making it possible for users to get back their coins staked with validators. From March, users will be able to access their staked coins which were frozen during “The Merge” in September, thanks to the upcoming feature that is currently unavailable. This feature will be implemented on mainnet once it’s completed.
Upcoming Shadow Fork Underpins Ethereum price
Developers are getting ready for the big moment – the Shanghai upgrade. As part of the preparations, a “shadow fork” is going to take place in the Ethereum mainnet shortly. This test version of the actual mainnet will have a similar code to check if it works on the real blockchain.
BlockPI Daily Jan 14, 2023
The State of NFT Markets @ConsenSys
Ethereum's developers @ethereum release devnet 2 ahead of mainnet shadow fork for Shanghai
Core @Coredao_Org Mainnet is Live
Bungee Beta @BungeeExchange is now live
— BlockPI (@RealBlockPI) January 14, 2023
Marius Van Der Wijden, an Ethereum developer at Geth, stated that the new shadow fork would increase complexity in the Shanghai testing phase and make it closer to the actual March rollout. According to Van Der Wijden, the shadowfork will increase the workload of the test by having more transactions, state and other elements.
Developers are hoping to launch a public test version of the Shanghai upgrade before February ends. This will give staking firms the chance to test out the new feature and see how it works.
Ethereum Price Prediction
ETH/USD pair is showing positive momentum with its price surging past the $1,500 key resistance and reaching $1,559 in a 24-hour period. Transactions worth $7.4 billion have been recorded too. This shows that Ethereum has a good chance of breaking the next resistance level of $1,650.
Ethereum price Support
Ethereum’s critical support level is currently set at $1,500. If prices close above this critical point, it could lead to a substantial increase in price. If the value of ETH crosses the $1,650 mark then we might observe a rise up to the resistance level of $1,700.
Ethereum Price Chart – Source: Tradingview
ETH currently has a level of support near $1,500 but could be susceptible to a bearish dip should it break this point, with predictions pointing to a potential drop down to $1,400. At the same time, the trend is looking positive which could provide a great opportunity for investors to grab onto this asset.
Ready To Invest? Here Are The Most Promising Altcoins Right Now
The cryptocurrency market is booming and altcoins are emerging as the new players in the game. With their unique features and potential, these altcoins present an exciting opportunity for investors to make a profit by diversifying their portfolios and taking advantage of potential returns from this burgeoning asset class.
Meta Masters Guild (MEMAG)
The presale for Meta Masters Guild, a mobile-focused gaming guild that will create a combination of Web3 and play-to-earn games, begins this week. Its Ethereum-based games will include playable NFTs and incentives that can be exchanged for MEMAG, the company’s native token, which can then be staked and sold. It will be offered in seven stages, the first of which will sell one MEMAG for $0.007.
This price will eventually grow to $0.023, representing a 228.5% gain for the first investors even before MEMAG becomes public. When the platform’s debut game (Meta Kart Racers) is released in the second quarter of this year, Meta Masters Guild is expected to develop quickly.
Furthermore, if the broader market and global economy improve, its native coin may benefit significantly.
Fight Out (FGHT)
FightOut is a blockchain-powered move-to-earn (M2E) program and gym chain that encourages and compensates users for being healthy and active. Fight Out also promotes community in both local and online exercise networks. The software allows members of the community to participate in challenges and receive personalized training regimens with progress tracking.
Fight Out will provide individuals with an interesting and satisfying method to be active and healthy, while also increasing the adoption of Web3 technology and producing a better society. Their FGHT coin presale has raised over $2.9 million.
Hurry up! you have just 8 days and 16 hours to take advantage of the current prices before they increase (or until the $5m runs out).
C+Charge (CCHG) is a blockchain-based network that rewards electric car owners for charging and operating them. Its native token, CCHG, is currently on the market. The global popularity of electric vehicles has increased substantially in recent years.
The electric vehicle (EV) sector has developed as a more environmentally friendly alternative to the existing automobile industry, which has long needed change. Thanks to companies like Tesla, Rivian, and others, people can now buy EVs and join in the green revolution.
The network has already committed to connecting 20% of Turkey’s EV chargers to demonstrate its scalability. 1 CCHG costs $0.013 and may be purchased in BNB or USDT. The presale has so far raised $283,050.
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Meta Masters Guild - Next Big Crypto Game
- Backed by Leading Game Studios
- Early Round Presale Live Now
- Low Hard Cap, No Vesting
- Playable NFTs, Rewards, Staking
- Solid Proof & CoinSniper Audited