Ethereum price today: Latest ETH news, price, updates, and more

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Ethereum News Today

If you're looking for the latest Ethereum price and news today then you're in the right spot.

Now that Ethereum is a proof-of-stake network and the merge was a success, speculators wonder how the ETH token will perform.

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Let's take a look at the latest Ethereum stories today and ETH's current price trajectory.

Latest Ethereum price and news

At press time, ETH is sitting at $1,672 with a $201 billion market cap, up 38% over the last 30 days. ETH is down 66% from its November 2021 high.

In recent Ethereum news, Ethereum is set to undergo another significant update called the Shanghai Upgrade in 2023. The testnet version of the update has already been launched for the developers to work and experiment on.

Ethereum's merge upgrade was successful. The update triggered the blockchain to shift its consensus to proof of stake.

NFT marketplace OpenSea extended its support for the Ethereum merge and clarified that the platform will only support Ethereum PoS NFTs.

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The network is also due to receive another upgrade dubbed Ethereum Shanghai update after the merge.

Crypto exchange Binance announced that it will be extending its support for the merge, adding that it will also be crediting back any hard-forked tokens that may launch during the merge back into the user's accounts.

The Ethereum foundation has recently published a new blog post that clears certain misconceptions about the merge. The foundation later added how the merge will not affect the gas fee prices of the network stating that the transaction speed will also remain the same.

Ethereum's counterpart chain Ethereum Classic is also doing well, up by 40% this past week.

In additional news, a 'Triple Halvening' is due to happen after the Merge. Alongside this, Ethereum will continue to have a high burn rate after the EIP-1559 update in 2021.

Finally, due to the current state of Ethereum staking, that means users cannot withdraw their staked ETH until at least 6 months after the Merge date, the amount of ETH circulating is down about 10% of the supply.

Recently while attending a press conference in Seoul, Ethereum's Co-founder Vitalik Buterin stressed the fact that 'cryptocurrency has to transform into something useful by 2032.'

Buterin added how he anticipates that the optimistic roll ups projects that are helping Ethereum scale today will ultimately "embrace" ZK rollups in the future as they have more advantages attached to them.

Latest Ethereum Updates

The Ethereum developers have recently launched a tesnet version of its upcoming Shanghai upgrade that is set to lower the gas fee prices on Ethereum soon after its deployment in 2023.

Alongside this latest Ethereum news, more information continues to come out about the impact the Ethereum merge will have.

Co-founder Vitalik Buterin has given several thoughts about the future of the blockchain, noting this transition to PoS is merely 50% of the entire Ethereum roadmap.

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Future upgrades, mainly staking, for example, will see Ethereum reach up to 100,000 TPS. Ethereum gas fees after the merge will likely remain similar, for it is this sharding upgrade that could help here.

Along with that, Ethereum classic has been performing extremely well as of late, soaring 40% higher at $36. The increased interest of the users in ETC can be attributed to the fact that Ethereum will soon be transitioning to PoS consensus which is fueling the prices of ETC alongside ETH.

Ethereum's co-founder has recently uploaded a new blog envisioning the L3 protocols of Ethereum.

Ethereum Burns

According to the data from Ultrasound Money, 51,487 ETH ($1,476,815) has been burned in the last 30 days.

Ethereum NFTs

Data from top NFT marketplace OpenSea suggests that Ethereum NFTs have been afloat during the ongoing bear market.

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Ethereum NFTs have maintained a steady sale volume, selling 1.61 million NFTs in July 2022. Ethereum NFTs also recorded a total sales volume of more than $495 million.