The Dencun Ethereum upgrade, targeting cost-effectiveness, was successfully rolled out on Wednesday.
After the upgrade, Ether’s price declined 3.6% from $4,083 to $3,936.
On Wednesday, the long-awaited Dencun Ethereum upgrade finally went live, promising cost-effectiveness within the network ecosystem. However, the deployment didn’t seem to favor Ether’s (ETH) price, as it dipped by 3.6% from $4,083 to $3,936, according to CoinMarketCap data.
Further, Singapore-based digital asset trading firm QCP Capital has warned about the potential corrections in Ether’s price. They’ve noted a concerning shift in “risk reversals,” turning negative for the ETH price. This shift is primarily attributed to increased interest in put options, which serve as a hedge against potential losses for those betting on price increases.
Ethereum Price Correction Soon?
Despite these cautionary signals, Ethereum remains strong in the crypto market, closely trailing Bitcoin in terms of pri
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