Dado Ruvic/Reuters
- Ethereum traded at a 24-hour high of $1,884, price levels not seen since August 2022.
- The Shanghai upgrade is slated for April 12 and will mark Ethereum's full transition to a proof-of-stake network.
- Crypto markets have been on a tear despite murky macro conditions from the Fed's rate hikes and turmoil in the global banking sector.
Ethereum surged to an eight-month high on Tuesday morning ahead of its long-awaited network upgrade.
The cryptocurrency traded at a 24-hour high of $1,884, price levels not seen since August. Ether has parred some gains since its morning peak, according to Messari, but is still up roughly 4% in the past day.