Here is why ETH is on the move!
There might be many reasons but what my small mind can sum up are these few reasons ETH might have found refuge in.
1. Berlin hard fork April 14th
Announced on 8 March, this upgrade will be part of a series of non-backward compatible hard-forks, which the developers have planned from the beginning as intermediate stations on the way to Serenity, the final shape of Ethereum. The upgrade will be activated with block 12,244,000, which is expected to happen on 14 April 2021. The Ropsten Testnet, the Goerli network, and the Rinkeby already activated the hard-fork.
2. Miners “show of force” failed on April 1st. PoS accelerated to this year.
3. Coinbase IPO
Coinbase's IPO on April 16th has put all coins in Coinbase in limelight, some of it is affecting ETH I believe.
4. Uniswap V3
Uniswap DEX (Decentralized Exchange), announced that they are targeting an L1 Ethereum Mainnet launch on May 5, with an L2 deployment on Optimism set to follow shortly after. They also unveiled their V3 Plan.
5. A lot of ETH Options Expired
Over $1.15 billion of ETH options expired March 26, 2021 and data suggests bullish traders may make a show of force after the expiry. Reference
6. Tax Returns extended
IRS has delayed and postponed Tax Returns filing deadlines by more than a month. From April 15th, 2021 to May 17th, 2021, US. tax deadline has been increased.
This has an indirect impact as-is for many other coins and investment opportunities. People have 1 more month to keep and invest that money which they would have paid to IRS.
Reference
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