- Ethereum Upgrade – The Shapella upgrade has allowed for staked Ethereum units to be available for withdrawal, sparking the interest of institutional investors.
- Bitcoin Struggling – Bitcoin’s recent rise to a ten-month high of $30K followed by a dip into the high $20K range has led traders to become disinterested in it.
- Institutional Interest in Ethereum Growing – With bitcoin activity going down, there is more attention towards Ethereum with it being noted in a report by K33 research head Bendik Schei.
Ever since the Shapella upgrade, it appears more institutions are interested in Ethereum. This upgrade has allowed for staked Ethereum units to be available for withdrawal, stirring the interest from institutional investors.
The world’s number one digital currency by market cap recently rose to a ten-month high of about $30K, though it failed to retain this position and eventually dipped into the high $20K range. This has led traders to become disinterested in bitcoin which has only paved the way for more institutional attention towards Ethereum.