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Ether stakers have withdrawn $1.21 billion worth of ETH from Ethereum staking contracts since the Shapella upgrade. Ethereum's Ether (ETH) token has entered a sharp price recovery a week after hitting a six-month low versus Bitcoin (BTC).  On April 18, the widely-tracked ETH/BTC pair reached 0.0709 BTC, up about 15% from its local bottom of 0.0602 BTC six days ago. Now, the pair eyes a run-up toward 0.075 BTC by June, based on the fractal setup previously discussed here. ETH/BTC daily price chart. Source: TradingView Ethereum's Shapella FOMO Interestingly, Ether's local bottom formation versus Bitcoin occurred on the day of Ethereum's long-awaited Shapella upgrade. The hard fork enables Ether stakers to withdraw their rewards — around 1.1 billion ETH — from Ethereum's proof-of-stake smart contract. This update may have boosted ETH's appeal compared to BTC, beating anticipations that a freshly unlocked Ether supply would increase sell-pressure. Stakers have wi

Join us as we discuss the potential for on-chain data and how it can make you a better trader. In this week’s episode of Market Talks, Cointelegraph welcomes Miguel Morel, CEO of Arkham Intelligence — a blockchain intelligence company that has built a platform that provides information on real-world entities and individuals behind crypto market activity. In today’s discussion with Morel, we will explore how and why on -chain data is useful and perhaps some ways that technical trader s should be using it. We will also talk about what might be next for the Ethereum network now that withdrawals are activated after the successful implementation of the Shanghai upgrade, and how on -chain data can help trader s navigate this phase. We kick things off with the latest major event in the crypto space, the Ethereum Shapella hard fork, which went down without a hiccup. We ask Morel what the primary takeaway is that the crypto industry and investors should focus on and what the data says about