The upcoming Shanghai/Capella upgrade has been fuelling speculation amongst Ether investors, who will soon be able to withdraw their staked ETH after over two years of the Beacon Chain's inception. Despite the uncertainy around the performance of the Ether asset following the upgrade, investors remain enthuasiastic with open interest in perpetual contracts on Bitfinex exchange reaching a six-month high of $131 million. Further, Bybit exchange registered a one-month high in open interest for ETH futures contracts.

Funding rates amongst major perpetual future networks are remaining flat, indicating there is no major stress or imbalance in short or long positions. This could mean that traders and investors are increasing their exposure to ETH futures contracts on the market as an expression of bullish sentiment or as a means of hedging their current Ether investments. While some analysts suggest that the asset could experience significat volatility in the short-term post the upgrade, it is believed that the upgrade will prove as a positive signal for Ether's overall performance in the long-term.

The asset has been broadly supported by recent banking collapses in the US and the fear of inflationary headwinds that could cause the country to enter recession. Digital assets have remained relatively resilient, thus helping Ether's value to climb 4% in the past week, reaching up to $1,876, the highest it has been since the Summer of 2021. The Ether to bitcoin ratio has been in an uptrend lately, fluctuatinng within a multi-year range between 0.052 BTC and 0.085 BTC, originating pre Spring 2021. Furthermore, data analytics platform Glassnode has found that losses amongst ETH investors had reached a 10-month low, possibly signifying a positive trend in health.



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