Major coins traded in the green Thursday night as investors welcomed the news of weaker US economic data.
| cryptocurrency | Profits (+/-) | Price |
| Bitcoin BTC/USD | +2.58% | $30,783 |
| ether ETH/USD | +10.76% | $2,109 |
| Dogecoins DOGE/USD | +8.10% | $0.089 |
What happened: ETH surged to an impressive 8-month high and surpassed $2,000. This is due to the successful Shapella upgrade performed by the network.
At the time of writing, the global cryptocurrency market cap was $1.28 trillion, up 4.62% over the last day.
US stocks rose on Thursday as traders cheered another report suggesting a slowdown in inflation. The S&P 500 rose 1.33%, while the Nasdaq Composite gained 1.99%.
See more: Best Crypto Day Trading Strategies
News Highlights: Ether’s price rally surged above $2,000 after the successful Shanghai upgrade on Wednesday, causing Bitcoin’s dominance to tumble from its near two-year record high, as reported by TradingView data.
Analyst Notes: Edward MoyaSenior Market Analyst at OANDA, said: “Today is all about Ethereum and its successful Shanghai upgrade. It took more than a few years, but now Ethereum is fully proof-of-stake. Withdrawals are allowed, but no serious dumping appears to be taking place.”
Crypto Analyst Michael van de Poppe predicts an exciting quarter ahead of us. He sees an uptrend for Bitcoin, with prices heading to $40,000-$50,000, and Ethereum not too far behind heading to $2,800-$3,000. He said, “Altcoins are gaining momentum as confidence in markets has returned (and they have a small window of opportunity).”
Pseudonymous cryptanalyst JA_Maartun said that if Ethereum rallies while Bitcoin remains sluggish, it could signal weakness in the overall cryptocurrency market. “Today we saw just one day of Ethereum outperformance. It’s not enough to draw any real conclusions, but I’ll keep it in mind.”
continue reading: Jim Cramer advises against using Binance, provoking violent reactions from Twitter users
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