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Ethereum is currently on an interesting upward trajectory. After reaching the $1,400 mark, the crypto asset is now aiming for the $2,000 milestone. And, with the upcoming Shanghai update, this could be a possibility.
ETH Price Action
ETH has had an impressive few days. The digital asset entered Thursday by breaking through the $1,400 mark for the first time in two months. The asset is up by 4.35% in the past 24 hours, and ETH has beaten the broader market and its 2.58% increase in the same period. At press time, ETH is holding strong at $1,401.
On the technical front, ETH is doing quite well. Its recent price surge gave it enough momentum to cross all its moving average (MA) indicators – from the 10-day MA of $1,399 to the 200-day MA of $1,357. Short-term MA metrics are gaining on ETH, but a sustained rally should keep the asset’s value above these metrics for the time being.
With a positive moving average convergence divergence (MACD), ETH is giving off a buy signal. And the asset’s relative strength index (RSI) of 41.13 indicates that ETH isn’t overbought.
Shanghai Update Boosts ETH Rally
ETH’s gains can be primarily attributed to the recent increase in positive market sentiment surrounding crypto. As many believe that the Federal Reserve should cut interest rate hikes this month, crypto prices have sharply increased.
However, an additional reason for positive sentiment surrounding ETH is the coming Shanghai upgrade. The upgrade will allow investors who staked ETH in the Ethereum Beacon Chain to be able to withdraw it finally. And for many of these investors who have been unable to access their funds since the Ethereum Merge back in September 2022, this could be an important event.
Besides the staking unlock, Shanghai is also expected to introduce “proto-danksharding,” which will bolster layer-2 rollup scalability ahead of the full implementation of the major Sharding upgrade later this year.
Tim Beiko, a notable Ethereum developer, recently claimed that they are working towards launching Shanghai in March. While this date is still subject to change, many ETH investors should be excited.
Consider New Coins for Gains
The ETH rally has made investors very optimistic. However, ETH isn’t the only asset capable of delivering gains.
Fight Out (FGHT)
Fight Out is a new move-to-earn platform shaking up the fitness industry. The platform incentivizes users to be more active and get their fitness up, rewarding them with tokens as they progress.
With Fight Out, users will be able to set their fitness goals. They will also be able to access courses and regimens that align with these goals. By tracing vital signs and other important metrics, Fight Out ensures that users can earn rewards. The platform is also developing a metaverse iteration where users can engage with others and participate in competitions.
FGHT, the platform’s native token, will power all operations and transactions in the ecosystem. It is available on presale and has thus far raised an impressive $2.87 million in its early stages.
Calvaria is one of the most exciting blockchain gaming platforms in the market. It combines the metaverse with non-fungible tokens (NFTs) and other interesting concepts, delivering strong gameplay that anyone will find exciting.
In Calvaria, players are tasked with choosing NFT trading cards representing different characters and using them to battle others within the metaverse. The more battles players win, the more they earn. Calvaria’s developers also engage in different community initiatives where players will be able to earn online.
RIA, the platform’s native token, RIA, powers all transactions within the ecosystem. RIA is also a proof-of-stake (PoS) coin that allows players to stake and earn more as a passive investment.
The digital asset is now in its last presale stage, having raised more than $2.73 million. This means that only 12% of the RIA coins are still available, with the token set to launch on exchanges such as LBANK Exchange and BKEX Global in the coming weeks.
Meta Masters Guild (MEMAG)
The Meta Masters Guild is bringing a new idea to blockchain gaming – instead of having just one game, the Guild encompasses different titles under a single umbrella. The objective is to create high-quality blockchain games that operate independently but are interconnected.
There are three games in the MMG ecosystem already. These games will use the MEMAG token as their native asset, meaning that as more games are added to the ecosystem, the asset’s prospects will also grow significantly.
Meta Masters Guild raised more than $50,000 in the first 24 hours of its presale, signaling strong market interest in the new play-to-earn crypto gaming platform.
The digital asset will feature seven presale stages, with the first and current stage selling 1 MEMAG for $0.007 USDT. This price is expected to rise by 42% next week, then to $0.023 by the seventh stage, giving early investors a 228.5% gain.
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