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Ether Reaches New High of 2023, Surpassing $2000 Following Successful Shanghai Upgrade

After a period of several months, Ether's price has reached a new all-time high of 2023, and is currently trading over $2000.

After the successful implementation of the Shanghai upgrade, which enabled staked ETH withdrawals, the price of Ether began to rise. The Shapella upgrade, a hard fork that included Ethereum Improvement Proposal (EIP) 4895, made it possible for network participants to withdraw their staked ETH.

Shortly after the successful implementation of the Shanghai upgrade on Wednesday evening, which allowed network participants to withdraw staked ETH, the price of ETH remained relatively stable with a slight increase.

ETH increased by approximately 4% to reach $2,000 at the time of writing, which represents a approximately 6% increase since the previous evening.

The Bureau of Labor Statistics (BLS) has reported that the Producer Price Index (PPI) for final demand fell by 0.5% in March, exceeding both the anticipated 0.1% decline and the previous month's -0.1% decline. This decline in inflation could have been a contributing factor to the recent surge in ETH prices.

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