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- SPOT #ETFs, which directly hold Bitcoin, potentially impacting supply-demand dynamics. Approval could lead to increased demand, driving significant price surges and setting new all-time highs.
SPOT ETFs are seen as a secure and regulated path for investors, potentially attracting a fresh wave of investment from both retail and institutional sectors. This influx could elevate Bitcoin's price and enhance market stability.
On a larger scale, the approval of SPOT ETFs signifies a significant step in integrating cryptocurrencies into mainstream finance, fostering innovation and adoption across diverse financial services. This move could bring #crypto into Wall Street and reshape the financial landscape.
- #Ethereum whales have engaged in an aggressive accumulation of $ETH, marking a nine-day streak – the first time in nine months.
Analysts see this as a potential bullish signal for the Ethereum price. Large whale addresses now control over 30% more ETH than a year ago, holding a total of 62.76 million ETH valued at $ 132.1 billion.
The 200 largest Ethereum wallets have amassed 30.3% more coins since November 21, 2022, and now control 52% of the circulating supply.
The network is experiencing growth, with 94,700 new ETH wallets created on November 21. Despite a recent 1.22% dip in ETH price, there's optimism for a potential upward movement towards $ 2,200 or even $ 3,400 if key support at $ 1,900 holds.
Additionally, Ethereum is preparing for the Dencun upgrade, with developers planning to launch Devnet 12 next week.
Validators on Goerli will be shut down three months after the upgrade or one month after the mainnet is updated.
- $BTC at $ 200,000 on next Thanksgiving?
- On November 23, 2023, in the cryptocurrency space:
**BlackRock and SEC Meeting:**
Global asset manager BlackRock met with the U.S. Securities and Exchange Commission (SEC) to discuss concerns about launching a spot Bitcoin exchange-traded fund (ETF).BlackRock presented potential redemption models for its proposed spot Bitcoin ETF, but it's unclear how the SEC responded.BlackRock is considered a front-runner in launching the first spot Bitcoin ETF in the U.S., with a strong approval record. Their initial application was submitted in June.
**OpenAI's Leadership Change:**
OpenAI announced an agreement in principle for Sam Altman to return as CEO, reversing its earlier decision to let him go.Altman expressed his excitement about rejoining OpenAI and building on the partnership with Microsoft, retracting from his role at Microsoft's advanced AI research team.
**Grayscale's Meeting with SEC:**
Grayscale Investments, including CEO Michael Sonnenshein, met with the SEC to discuss transforming its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.Discussions involved NYSE Arca, Inc.'s proposed rule change for listing and trading GBTC shares.Grayscale's agreement with BNY Mellon for transfer agency and services is not seen as an imminent indicator of GBTC conversion.This meeting follows a U.S. appellate court mandate in October for the SEC to review its decision to deny Grayscale's bid to convert GBTC to a spot ETF.
Note: The article concludes with a disclaimer that it does not provide investment advice, and readers should conduct their own research before making financial decisions.
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- **Binance Japan to list 13 new tokens, including Near and Optimism**
**Key Points:**
Binance Japan will list 13 new tokens on November 27, bringing its total to 47, the highest number in Japan.
The new tokens include Hedera Hashgraph (HBAR), Near Protocol (NEAR), Optimism (OP), Immutable X (IMX), Arbitrum (ARB), The Graph (GRT), Render Token (RNDR), Decentraland (MANA), EOS (EOS), GALA (GALA), ApeCoin (APE), Klaytn (KLAY), and Lisk (LSK).Binance Japan said that all 13 tokens are already listed on other registered exchanges in Japan and are classified as eligible tokens for a simplified assessment process by the Japan Virtual and Crypto Assets Exchange Association.
This listing is another step towards Binance Japan's goal of offering 100 tokens in Japan.
Binance Japan was launched in August 2022 after Binance acquired the local licensed crypto exchange Sakura Exchange BitCoin.
Binance's rivals Coinbase and Kraken have recently exited the Japanese market, citing market conditions.
**Additional Details:**
Binance Japan is committed to enriching its service offerings in Japan.
Binance Japan is leveraging its global expertise and leading blockchain ecosystem to expand its offerings.
The listing of the 13 new tokens is expected to increase trading activity on Binance Japan.
The move is likely to further solidify Binance Japan's position as the leading crypto exchange in Japan.
- **Here’s what happened in crypto today**
**Key Points:**
Changpeng Zhao (CZ), CEO of Binance, is expected to plead guilty to violating U.S. Anti-Money Laundering requirements.
CZ will step down as CEO of Binance but retain his majority stake.
Binance will pay $ 4.3 billion in settlement funds to the DOJ, CFTC, and Treasury Department.
Binance transferred $ 3.9 billion in USDT between its wallets days before the DOJ settlement report.
The SEC sued Kraken for failing to register as a securities exchange and commingling customer funds.
The SEC listed 16 cryptocurrencies it considers securities, including ADA, MATIC, and SOL.
**Additional Details:**
CZ's plea deal will not affect the pending litigation with the SEC.
The $ 3.9 billion USDT transfer has raised questions among the crypto community.
Kraken denies the SEC's allegations and will defend its position in court.
- Celsius, a bankrupt crypto lending firm, is eager to retrieve its staked Ether (ETH) from Lido, a liquid staking platform that recently enabled withdrawals. Celsius has initiated the process of withdrawing its Lido Staked ETH (stETH) in batches of 1,000, totaling 428,084 stETH.
The value of this stash is estimated to be around $784.7 million. Once the withdrawal is completed, Celsius will receive the equivalent amount in Ethereum, and the stETH tokens will be burned by Lido.
The cumulative amount of stETH in the withdrawal queue is 442,000 from 141 requests, with a total value of approximately $808 million. Celsius is responsible for the majority of these requests.
Lido has stated that it has enough ETH in its buffers to accommodate these withdrawal requests. However, if there are larger numbers of withdrawal requests, it could impact the network withdrawal queue, potentially resulting in longer wait times for Celsius to receive its ETH back.
There is a possibility that if unstaking requests exceed 10%, it could lead to a larger number of validator exits and further delays in the withdrawal queue.
Celsius may utilize the retrieved capital as part of its restructuring efforts or to partially repay its debts to creditors, which amount to $4.7 billion.
In a previous transaction, Celsius converted a significant amount of wrapped Bitcoin (WBTC) into Bitcoin, valued at approximately $540 million at the time.
- #Ethereum's core developers have issued patches for Prysm Labs and Teku clients in response to two Beacon Chain finality issues that occurred within a 24-hour period.
The Beacon Chain serves as the consensus layer for the Ethereum network. The issues prevented block finalization for 25 minutes and over an hour, respectively.
The Ethereum Foundation stated that high load on some of the Consensus Layers clients caused the issue, but client diversity allowed users to transact on the network. Both Teky and Prysm have released upgrades to prevent beacon nodes from consuming excessive resources.
Validators earned $46 million in the first week of May due to Memecoin's recent trading hype, according to on-chain data.
- Justin Sun, the co-founder of Tron and CEO of BitTorrent, has announced that he will start actively trading meme coins like PEPE and promising cryptocurrency projects from his public address.
He has clarified that he will donate all profits to charity and personally bear any potential losses. It is unclear which project Sun has an eye on, and which of his crypto addresses he will use when trading meme coins.
Sun has not shied away from engaging in other projects on public networks, such as Ethereum. Sun has previously faced criticism from Binance CEO, Changpeng Zhao, for a $56 million transfer in TUSD, which was believed to be a token grab of SUI, the native currency of the Sui Network.
- A whale that transferred $14.5 million of Pepe coin (PEPE) to Binance is now buying Turbo (TURBO), with some traders speculating that TURBO could be the next big thing.
The whale bought 4.23 trillion PEPE from 422 ETH and 200K USDC, and transferred all tokens to Binance on May 5, potentially earning a profit of $14.5 million. With #PEPE's price cooling off, the whale seems to have identified an opportunity in TURBO, which is up 45% in the last 24 hours and has trading volumes exceeding $140 million.
However, meme tokens generally rely heavily on hype and FOMO-driven demand and their prices tend to collapse rapidly once the hype subsides.
- Epic Games CEO, Tim Sweeney, has dismissed claims that the "metaverse" is dead and instead highlighted over 600 million monthly active users across virtual world platforms such as Fortnite, Minecraft, Roblox, The Sandbox, and VR Chat.
This follows a suggestion by a PR firm CEO that the technology had died after being abandoned by the business world, with examples of failed metaverses such as Meta's Horizon Worlds, Decentraland, and Yuga Labs’ Otherside. Sweeney responded by jokingly suggesting an online wake for the metaverse.
In April 2022, Epic Games announced a $2 billion funding round to accelerate the company's plans for the metaverse, with null billion invested by Sony Group and KIRKBI.
- A trader has spent $120,000 on gas fees to purchase $155,000 worth of a memecoin called Four (FOUR). The trade involved swapping 84 Wrapped Ether (WETH) for 13.8 billion FOUR tokens on the Uniswap exchange.
The trader reportedly voluntarily increased their gas fee to expedite the transaction and is now sitting on unrealized profits of $245,667. Gas fees on the Ethereum network have been a topic of debate among the crypto community, with some praising the revenue generated and others criticizing the high fees as a barrier to mass adoption.
The recent meme coin frenzy, driven by coins such as Pepe (PEPE), has contributed to the surge in gas fees, along with the Maximal Extractable Value (MEV) trading bot, which has been front-running memecoin trades and profiting significantly from heightened network use.
- The recent transfers of #ETH by #Vitalik Buterin and the Ethereum Foundation to #Kraken exchange have raised concerns among holders and traders about a possible drop in prices.
Although some analysts believe that ETH may soon recover and break above $2,000, the increased transfers to exchanges may indicate upcoming volatility.
On the positive side, Ethereum is seeing increased adoption from major companies and institutions, and a record amount of ETH was burned thanks to the meme coin craze.
However, the recent sharp drop in prices could anchor the next leg down and force further liquidations toward the null,500 support line.
- #Pepe, a meme-based token, has gained significant interest in the past few weeks, leading to a surge in its value. One early investor bought 5.9 trillion PEPE tokens last month for $260, and they are now worth almost $8 million.
The popularity of #memecoins, such as Dogecoin and Shiba Inu, has increased significantly in recent times, leading to a rise in trading volumes for Pepe. Despite the rise in value, liquidity concerns around the token may pose a challenge for the investor looking to realize their profit.
- #ChatGPT is an AI-powered chatbot that can offer personalized advice on personal finance management. It can provide customized recommendations and insights on various financial topics, including budgeting, investing, debt management, and retirement planning.
It can help users make informed decisions about their money by analyzing their financial situation and goals. ChatGPT can suggest budgeting tools and resources, such as websites or mobile apps, and provide alerts and updates on market trends and fluctuations.
It can advise on investments to consider, debt management strategies, and methods for budgeting and saving for retirement.
- The #Ethereum Foundation has transferred 15,000 ETH, worth around $30 million, to a Kraken deposit address, leading to speculation about a potential dip in the ETH price.
Previous large-scale selloffs by the foundation have been linked to market downturns, and both the foundation and co-founder Vitalik Buterin are closely watched for the timing of their sales. However, recent trends, such as investors moving their ETH off exchanges and a surge in whale accumulation, suggest a more bullish ETH price prediction.
The foundation has costs to cover, and the latest selloff is still small compared to the one seen in 2021. The organization has developers to pay and invests in the wider crypto ecosystem, such as taking part in a $10.5 million Series A funding round for the workplace encryption startup Skiff.
- #PEPE, a meme token based on Ethereum, has experienced significant gains, leading to an interest in the Bitcoin BRC-20 token standard it was originally inspired by.
The BRC-20 standard was created by a pseudonymous on-chain analyst to facilitate transfers of fungible tokens across the Bitcoin network.
Many newer memecoins have launched using this standard, resulting in a surge in the BRC-20 token market capitalization and transaction volume. However, caution should be exerted as the BRC-20 standard is still experimental.
- The cost of #Ethereum transactions reached a one-year high on May 4, with an average fee of $15. This surge in gas fees was attributed to the #memecoin renaissance led by the PEPE coin, which had a null billion market cap and resulted in increased trading volume on Uniswap. Gas fees on layer 2 networks, particularly those using zero-knowledge proofs, also skyrocketed. Despite their design to reduce transaction costs, layer 2 networks experienced fees as high as $30. As a result, some users turned to Ethereum Virtual Machine-compatible chains like BNB Chain.
- #PEPE, a meme coin based on Pepe the Frog memes, has recently surged in price by nearly 38,900% since its launch on April 14, surpassing Dogecoin and Shiba Inu. It has broken into the top 125 coins by market capitalization and ranked as the 17th most traded cryptocurrency by 24-hour trading volume.
The longevity of PEPE may depend on its listing on a major cryptocurrency exchange, which could extend its impressive run.
However, investing in meme coins is high risk, as their prices are tied to social media hype and are susceptible to price manipulation. Nevertheless, PEPE's recent success adds to the fascinating backstory of Pepe the Frog, a meme that has been used as an in-joke, alt-right icon, and symbol of resistance.
- According to Data Talk, at 5 p.m. ET on April 26, 2023, #Bitcoin's value increased by 2.03%, or $556.60, reaching $27991.03.
This rise in value put an end to a two-day losing streak. Bitcoin's value is down by 1.41% since the beginning of the month, but it has increased by 69.14% since the start of the year. However, it is still down by 58.72% from its all-time high of $67802.30 on November 9, 2021, based on 5 p.m. levels.
Additionally, compared to the same date a year ago (April 26, 2022), Bitcoin's value is down by 26.59%, when it traded at $38127.90. Bitcoin is currently down by 29.90% from its 52-week high of $39927.69 on April 28, 2022, based on 5 p.m. levels.
However, it has increased by 79.40% from its 52-week low of $15602.37 on November 21, 2022, based on 5 p.m. levels. Bitcoin's intraday high today was at 28043.45, and it has increased by 2.22% from its intraday low.
- #Bitcoin is experiencing a correction and buyers are trying to hold the 50-day SMA at $26,983, but the shallow bounce indicates that bears are still in control.
The 20-day EMA has turned down and the RSI is negative, suggesting that selling could increase if the 50-day SMA breaks.
The BTCUSDT pair may fall to the support level of $25,250, and a further drop could occur if this level crumbles, potentially to $20,000. To signal a comeback, buyers need to sustain the price above the 20-day EMA and push towards the $31,000-$32,500 resistance zone.
If the price falls below $27,125, the sentiment will remain negative, increasing the likelihood of a fall to $25,250.
- #Bitcoin has experienced a gradual decline since Wednesday, losing over 8% of its value in the past week, with its price falling closer to the cost of mining.
Analysts note that this has prompted miners to offload their coins, resulting in downward pressure on the cryptocurrency’s value. Another analyst has noted an uptick in the activity of movement of "ancient" Bitcoin or dormant addresses, which could signal a "local top" for Bitcoin.
A local top refers to a point in an asset's price chart where the price peaks before starting to decline, creating a short-term bearish trend. Despite the minor correction, various experts expect Bitcoin to bounce back soon, considering that most fundamentals remain strong.
- #PepeCoin (PEPE), a newly launched #memecoin, has gained 42% in the last 24 hours and over 528% since its launch on April 17. Despite concerns over its liquidity, PEPE has attracted investors seeking to profit from the latest memecoin trend.
Other memecoins, such as Tamadoge (TAMA), ArbDoge AI (AIDOGE), and Good Gensler (GENSLR), have also recorded significant gains in recent times, indicating growing interest in the memecoin market.
However, popular memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have been negatively affected by the market's general mood, recording losses in the last week.
- #Stablecoin transfer volumes have fallen 19.2% in the past week, with Binance's BUSD leading the decline with a 353.3% decrease in volume.
The market cap for BUSD has also been decreasing, dropping below $7 billion on April 15, marking the lowest amount in circulation since April 2021. Other major stablecoins like USDC and TUSD have also seen a decrease in total supply. Since their respective peaks, USDC's supply has fallen by $20 billion, BUSD's supply has lost $11 billion, TUSD's supply has dropped by null.3 billion, and Dai's supply has decreased by $4.4 billion.
These stablecoin declines are occurring as less volatile assets like BTC and ETH are becoming more popular. The U.S. SEC's potential enforcement action against BUSD's issuer, Paxos, is also looming over the stablecoin's fate.
#BUSD has fallen to 13th place among cryptocurrencies, with Shiba Inu even briefly overtaking it earlier this week. TUSD and USDC currently have the third and fifth highest supply, respectively.
- #Bitcoin is set to end the week down by 10% and ether down by 12%, amid a broader market correction in the cryptocurrency market.
The total crypto market cap is down by 3.4% over Thursday, and the prices of both Bitcoin and ether have declined from their levels last week.
The market has been affected by regulatory uncertainty, and Coinbase CEO, Brian Armstrong, has said the company would consider relocating outside the US. Meanwhile, regulators have charged Bittrex for not registering its platform, and Montenegrin prosecutors have filed an indictment proposal against Terraform Labs cofounder Do Kwon.
- An old Bitcoin address that had been inactive for a decade suddenly came to life, transferring 279 Bitcoins worth $7.8 million to new wallets.
The wallet had received 1,128 Bitcoins in October 2012 and May 2013, and no coins had gone in or out until the recent transfer.
This event followed another ancient wallet moving 2,071.5 Bitcoins worth $60.7 million after being inactive for over nine years. Some believe that these transfers may indicate a shift in confidence to hold the crypto asset.
Bitcoin has been experiencing a slump, dropping 2.33% over the last 24 hours to just above $28,000. However, the European Parliament passing the long-awaited MiCA crypto law is a positive development for the crypto world.
- #Decentralized media is gaining prominence among Web2 and Web3-native journalists, who are seeking to create a new era of media that is more collaborative and co-governed by its audience.
Non-fungible token (NFT) publication NFT Now is building a community ahead of the launch of the Now Pass, a non-fungible token that allows token holders to deepen their roots within the NFT Now community and media ecosystem.
Dirt, a Web3-native publication founded in 2021, aims to break down Web2 media regimes by publishing content from a network of freelancers, using blockchain infrastructure to keep media decentralized. Both NFT Now and Dirt use NFTs as a way to monetize their content and to grant access to token-gated Discord channels to discuss a range of topics.
- #Ethereum has fallen by 2.20% to $1938.10, the lowest level since April 12, 2023. It has been down for three out of the past four days, with the worst two-day stretch since March 10, 2023.
However, it is still up 6.66% month-to-date and 61.57% year-to-date. Ethereum is currently down 59.62% from its all-time high of $4800.00 on Nov. 9, 2021, and down 35.43% from its 52-week high of $3001.41 on April 21, 2022. On the other hand, it is up 114.81% from its 52-week low of $902.25 on June 18, 2022.
- #Cryptocurrencies are being used by sovereign governments to evade economic sanctions, with a bulk of the illicit funds flowing between Binance and Iran's largest crypto exchange, Nobitex, using the low-profile cryptocurrency TRON.
Illicit transactions involving crypto rose to a record $20.1 billion in 2022, with 44% of that total deal flow being activity involving sanctioned governments or organizations, according to Chainalysis.
Governments and enforcement agencies are taking action against those who flout economic sanctions through the use of crypto assets, but officials must take care not to step on the rights of legitimate crypto users.
Collaboration between governments and regulators, as well as the cooperation of crypto exchanges, is necessary to regulate crypto and ensure compliance with economic sanctions.
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- #Bitcoin's price has dropped by over 3%, leading to losses in several altcoins including Ethereum. However, applying a dollar-cost averaging (DCA) strategy can be a smart investment strategy for profiting from BTC rallies.
#DCA is an investment strategy where a fixed amount of capital is invested at different time intervals, allowing investors to profit from potential price bottoms and rallies in the future. Bitcoin's fear and greed index is still relatively high, indicating that investors are still buying BTC at the current price.
- The growing challenge Ethereum poses to Bitcoin's long-standing dominance in the cryptocurrency market.
#Ethereum's platform supports decentralized applications and smart contracts, making it versatile and able to support a myriad of use cases.
Additionally, the Ethereum 2.0 upgrade addresses scalability and environmental sustainability concerns, positioning it as a greener alternative to #Bitcoin's energy-intensive Proof of Work system.
However, Bitcoin's pioneering status and established network, as well as its limited supply and deflationary nature, make it a reliable store of value and hedge against inflation. In the end, the article suggests that both cryptocurrencies will coexist and cater to different niches in the crypto space, shaping the digital economy's future.
- Four days after the activation of the Shanghai Upgrade, #Ethereum has outperformed Bitcoin by roughly 15% in the last week of trading.
Ethereum is trading at a new April 2023 high, up approximately 15% against #Bitcoin. ETH bulls have yet to reverse losses posted against Bitcoin from early March completely.
The Shanghai Upgrade has completely turned Ethereum into a proof-of-stake platform, allowing coin holders to withdraw their assets.
Whether ETH will continue outperforming Bitcoin in the days ahead remains to be seen for now. However, it is vital for **ETH bulls to firmly push above 0.072BTC in a breakout.**
- #Bitcoin's value increased by 3.15% to $30402.54 at 5 p.m. ET, snapping a three-day losing streak. It is up by 7.08% month-to-date and up by 83.71% year-to-date.
However, it is still down 55.16% from its all-time high of $67802.30 on Nov. 9, 2021. Bitcoin traded as high as 30454.03, up 3.33% at today's intraday high.
- #Ethereum's value increased by 0.70% to $2092.83 at 5 p.m. ET. It has been up for nine of the past 11 days, up by 15.17% month-to-date, and up by 74.47% year-to-date.
However, it is still down 56.4% from its all-time high of $4800.00 on Nov. 9, 2021. Ethereum traded as high as 2123.06, up 2.16% at today's intraday high.
- Elon Musk plans to launch a new artificial intelligence (AI) platform called "TruthGPT" to explore the mysteries of the universe and counter perceived left-wing bias in the industry.
Musk believes that the ChatGPT platform is programmed to lie by left-wing experts. He intends to create an AI that seeks maximum truth and understands the nature of the universe.
He also addressed concerns over safety by stating that an AI that cares about understanding the universe is unlikely to annihilate humans. In addition, a previous report indicated that ChatGPT-4 has demonstrated its capacity for blockchain applications.
- The current state of academia and science is marked by several inefficiencies, including a flawed system where career prospects depend more on publication in prestigious journals than the merits of the work itself.
This system is maintained by publishers who charge high subscription fees for access and conceal government-funded research behind locked paywalls. The open-access movement has progressed but still faces limitations and scientific inequities.
Decentralized science (DeSci) aims to disrupt these systems by eliminating profit-hungry intermediaries, increasing collaboration across the field, and harnessing the power of crowdsourcing.
Web3 protocols, such as blockchain technology, can reshape the scientific publishing industry by providing scientists with the tools to efficiently and effectively produce disruptive research.
- The price of #Ethereum (ETH) has reached a new 11-month high of over $2,100, following a surge of over 10% in the last five days since the Shanghai update. Over 1 million ETH worth $2.1 billion has been withdrawn from Ethereum's Beacon Chain within five days of the Shanghai update, but some experts believe this is due to validators re-staking their ETH almost immediately after withdrawals.
The CEO of blockchain development firm Labrys predicts that more ETH will be staked over the medium to long term as investors feel safer following Shapella. Despite the recent surge, ETH is still down 30% from its position 12 months ago.
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- Hundred Finance, a multichain lending protocol, has been hit by a flash loan attack on the Ethereum layer-2 blockchain #Optimism.
The protocol has reported losses of $7.4 million, with the attacker manipulating the exchange rate between ERC-20 tokens and hTOKENS, allowing them to withdraw more tokens than originally deposited.
Blockchain security firm Certik confirmed the attack, adding that the attacker manipulated the exchange rate formula through Cash value.
This attack follows another exploit on the Gnosis Chain almost 12 months ago where Hundred Finance lost over $6 million in funds.
- #Shiba Inu's market capitalization has surpassed Binance USD stablecoin's market cap, coinciding with a positive performance for the popular meme coin.
This increase is due to the recent milestones achieved by the Shiba Inu community, such as the launch of its layer-2 network Shibarium, which has led to an increased SHIB burn rate.
Meanwhile, BUSD's supply has declined since its issuer Paxos announced it would stop minting new tokens, resulting in the stablecoin being delisted by Coinbase and Binance stripping its special privileges.
- #Ethereum (ETH) has seen a 6% price increase since implementing the Shanghai upgrade, currently trading at $2,121. The upgrade allows users to withdraw their staked assets from the platform, which may lead to a slight dip in price.
However, the increased liquidity is expected to attract conservative institutional investors who need unrestricted access to their funds.
With over $35 billion worth of staked assets available, the update has removed the risk involved for institutional investors, making them more likely to invest in ETH.
- A proposal to return 700 million #ARB governance tokens to Arbitrum's DAO Treasury, following the Foundation's transfer of funds without community approval in March, has been rejected by a large majority vote.
The proposal was defeated by 84% of the total votes received. One whale with 4.8 million ARB tokens claimed that the proposal was a "power play" and would delay the Foundation's ability to support the growth of the ecosystem.
Another whale, with 18 million ARB tokens, emphasized the need for balance between advocating for decentralization and preventing progress in the ecosystem. Arbitrum's community and Foundation are in dispute over the Foundation's governance proposal AIP-1, which called for an investment of nearly null billion worth of ARB tokens to fund its operations.
The Foundation has released a new set of improvement proposals aimed at reestablishing dialogue with the community.
- #Bitcoin is set to end the week with a 9% gain following news of easing inflation, while Ether is expected to see a 13% weekly gain after a successful software upgrade.
The total crypto market cap is now at null.28T, up 1.5% from Thursday. The rally is believed to be driven by retail investors returning to the market. The SEC has reopened a proposal that would require the registration of all crypto exchanges and DeFi platforms.
FTT Token more than doubled in value after attorneys representing bankrupt FTX revealed plans to relaunch in Q2. VanEck plans to liquidate a crypto mining ETF due to losses from declining mining stocks.
The Digital Trend suggests taking some profits in Bitcoin in the coming weeks due to an expected recession once the Fed starts cutting rates.
- #Ethereum's Shanghai Upgrade, which allows stakers to withdraw their staked ETH tokens, has gone live, and traders have reacted positively as ETH's price has increased by over 2% in the last 24 hours.
However, ETH's price is currently resting on a positive trend line established over the last few weeks, and a break below this level could result in a drop to null,850.
One technical indicator, the RSI, suggests that the altcoin's price will close today below the while closing above it could move toward the next resistance level at null,995. Readers are advised to do their research and due diligence before taking action.
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- #Bitcoin is holding above $30,000 as investors await the US consumer price index report for March and Ethereum's Shapella upgrade.
Bitcoin rose more than 3% in the past 24 hours to hover around $30,200, while Ethereum was trading at around null,895, up 0.3% from the previous day.
Analysts are speculating that this week's CPI number could come in at a level that gives the Fed reason to think about pausing raising rates in the next meeting, thereby boosting assets like bitcoin.
Meanwhile, Solana's SOL surged over 12% to trade around $23.2, while ETC, the token of Ethereum Classic, gained over 4% to change hands at $21.6.
- On April 11, 2023, at 5 p.m. ET, #Ethereum increased by 1.55% to reach $1885.87. It has been up for three consecutive days, with a 1.73% increase over that period. Ethereum has increased by 3.78% month-to-date and by 57.22% year-to-date.
However, it is still down by 60.71% from its all-time high on November 9, 2021, and down by 36.98% from April 11, 2022. Additionally, it is down by 39.28% from its 52-week high on April 13, 2022, but up by 109.02% from its 52-week low on June 18, 2022.
Ethereum's intraday high on this day was 1904.61, and it was up by 2.56% at that point.