Ether price cracks $2K amid staking withdrawals enabled post-Shapella upgrade

Ether (ETH) has crossed the $2,000 mark after the much-awaited Shanghai and Capella upgrade that was implemented into the Ethereum Mainnet.

Despite some fears of a new supply of Ether (ETH) hitting the markets after the much anticipated Shapella update, ETH surpassed the $2,000 price point almost a day after the upgrade. 

Data from Cointelegraph Markets Pro shows that the token entered the $2,000 level on April 13, the highest level reached since August. The surge comes after the successful Shapella upgrade implemented at 10:27 pm UTC on April 12.

The upgrade allows staked ETH withdrawals for users who previously had no way to take back their funds after staking. Even though a new supply of ETH hit the markets, suggesting a potential dump, the price of ETH still managed to hit $2,000 and currently maintains the level at the time of writing.

This is a developing story, and further information will be added as it becomes available.