A quick review of Ethereum's past upgrades route

Event-Driven Rise in ETH price

• The Shanghai upgrade of Ethereum is the most concerning topic in the crypto market recently.
  
  
• Every upgrade of Ethereum will bring a lot of crypto price fluctuations to ETH.
  
  
• In March 2023, with the fifth upgrade of Ethereum in April, the price of ETH soared from around 1430 USDT to 1920 USDT (as of April 11, MEXC data), and the room for growth has reached an astonishing 34%, setting a new record of the highest gain since August, 2022.
  
  

History Repeats

• It is not the first time that the increase brought about by the Shanghai upgrade has appeared.
  
  
• In the first half of 2021, Ethereum ushered in two important upgrades: London Upgrade and Berlin Upgrade.
  
  
• London Upgrade drove the price of ETH to rise from around 1920 USDT to a record high of 4865 USDT, an increase of 153%.
  
  
• Berlin Upgrade drove the price of ETH from around 1900 USDT to 4000 USDT. ETH broke through 4000 USD for the first time in history, an increase of 118%.
  
  

Timeline of Ethereum Upgrades

• April 12, 2023 Shanghai Upgrade: This Shanghai upgrade will introduce five Ethereum Improvement Proposals (EIPs), including three key Ethereum protocols: EIP-4895, EIP-3855 and EIP-3860
  
  
  • EIP-4895 is to provide a more flexible pledge mechanism for Ethereum pledgers
    
    
  • More flexible staking: this upgrade aims to improve the performance, security and scalability of the Ethereum network

• June 24, 2021 London Upgrade: Fee Market Implementation Proposal: EIP1559 London Upgrade introduces EIP-1559
  
  
  • The transaction fee market has been reformed
    
    
  • At the same time, the refund processing method of fuel costs and the Ice Age schedule have been modified and upgraded
    
    
  • "Since OpenEthereum was deprecated after the London upgrade, Kovan has no blocks yet, it may be upgraded after mainnet." - Tim Beiko | timbeiko.eth (@TimBeiko)

• April 14, 2021 Berlin Upgrade: Implementation proposals named after Devcon's cities: EIP2565, EIP2929, EIP2718, EIP2930
  
  
  • The Berlin upgrade optimizes the gas cost of certain EVM operations
    
    
  • This update adds support for multiple transaction types

• December 6, 2019 Istanbul upgrade: Performance optimization implementation proposals: EIP152, EIP1108, EIP1344, EIP1844, EIP2028, EIP2200.
  
  
  • Optimized the gas cost of certain operations in the Ethereum Virtual Machine
    
    
  • Improve resilience to denial of service attacks
    
    
  • Make the Layer 2 network expansion solution based on concise non-interactive knowledge demonstration and scalable transparent knowledge demonstration have better performance
    
    
  • Making Ethereum and Zcash Interoperable
    
    
  • Allow contracts to introduce more creative features

• January 16, 2019 Constantinople upgrade: Double hard fork & postponement of the difficulty bomb implementation Proposals: EIP145, EIP1014, EIP1052, EIP1234, EIP1283
  
  
  • Ensure that the blockchain does not freeze until Proof of Stake is implemented
    
    
  • Optimized the gas cost of specific operations in the Ethereum Virtual Machine
    
    
  • Added the ability to interact with addresses that have not yet been created

• 2015 - 2017 Border and Home:
  
  
• The first and second phases of Ethereum are the first time that Ethereum is displayed to developers at the quasi-system level. Frontier developers are called gold diggers
  
  
• The home means that the gold diggers build their own homes, making Ethereum more stable and perfect

Not Every Upgrade Brings Benefits

Selection Bias

News Assimilated by Market

Information Asymmetry