In March, Ethereum will go through its first significant update since switching to a proof-of-stake mechanism in September.
This upgrade is referred to as the Shanghai hard fork. With the upgrade, the proof-of-stake blockchain will be able to function fully and unlock ETH that has been staked. Another major Ethereum hard fork is expected in the third quarter.Ethereum , the native asset of the Ethereum blockchain, is trading at $1,667 as of press time, up 7% in the last 24 hours.
After Federal Reserve Chair Jerome Powell said the U.S. central bank was seeing indications of waning inflation and cryptocurrencies recovering. The Federal Open Market Committee increased its benchmark interest rate by 25 basis points to a new range of 4.5%–4.75%, the highest level in 15 years, before Powell's speech, as was predicted.
The central bank stated in its policy statement that"ongoing rises" in borrowing costs will be required to further reduce inflation.
Source: Digital Coin News (digitalcoinnews.net)
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