Shanghai hard fork is the latest important update of Etherum after The Merge with features such as reduced gas fees, allow withdrawal on Beacon chain, and change in EVM object format, helping Ethereum gradually complete its upgrade to 2.0 version.
The overall market capitalization has lost the $1 trillion mark, down about $100 billion in the past few hours after reporting a higher-than-expected August Consumer Price Index (CPI).
Ethereum was up 25% in the past few days and seemingly poised to break above the descending resistance line formed since the ATH (all-time high) in November 2021.