Ether, Dogecoin Lead Crypto Market Bounce; Lido's Staked Ether Breaks Into Top Ten

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Traders echoed “alt season” mentions on Crypto Twitter as a successful Shapella rollout on Ethereum led a jump in ether ($ETH) tokens and the broader crypto market. By shauryamalwa

Ether added over 10% in the past 24 hours, trading at 11-month highs above $2,120 during the Asian trading hours. Thursday’s Shapella upgrade ushered in a major development for the Ethereum network, allowing users to stake and unstake tokens from the network at will – improving the network’s overall outlook.

Lido’s staked ether tokens climbed into the top ten cryptocurrencies by market capitalization of $12 billion, which is the amount of ether locked on the protocol. “Staking withdrawals enabled by the Shanghai upgrade represent a significant milestone in the development of the Ethereum blockchain,” Tetu said over email. “Withdrawals will allow stakers to participate in securing the network with more confidence while increasing the capital efficiency of the tokens they decide to allocate.”

Meanwhile, dogecoin gained for the second-straight day. Much of the run came as trading service eToro said it would offer crypto trading directly from the Elon Musk-owned social media giant Twitter, which likelyMusk is a vocal dogecoin proponent and has expressed support for the Dogecoin network’s development several times in the past.

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Crypto Analysts Split on Ether Market Trends After Ethereum’s Shanghai UpgradeSome market observers expect an ether price swoon after the Shanghai or 'Shapella' upgrade while others believe the market will bounce after the event in a classic “buy the news” move. LedesmaLyllah reports LedesmaLyllah 'buy the news' is unlikely around this type of event. LedesmaLyllah Ready to win big in SecondLife? Don't miss out on the chance to win an exclusive Egg NFT and a share of a $30K prize pool! Join the hunt now! SecondLiveReal secondlive metaverse web3 gamefi stake bean earn live LedesmaLyllah While the Shapella upgrade may cause some fluctuations in the crypto market, MemeGold offers a stable and valuable option with low taxes and promising returns. MemeGoldToken
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