Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade
On-chain report from Glassnode estimates at least $300 million worth of selling pressure for ETH after the much-awaited Shanghai upgrade. Glassnode estimated a total of 170K ETH intended to be sold after the upgrade, but even in the most extreme case where the maximum amount of rewards and stake are withdrawn and sold, the sell-side volume still falls within the range of the average weekly exchange inflow volume. Staked ether cannot be withdrawn or freely traded currently, but Shappella, which is expected to occur simultaneously with Capella on April 12, will allow investors to withdraw their ether staked on the Ethereum blockchain. Banks such as JPMorgan say that ether will likely face some selling pressure from the upgrade.
OKX Wallet and Index Coop Have Announced an Official Partnership
<b>Cointime News:<i> </i></b>OKX Wallet and Index Coop have announced an official partnership, allowing users to connect their OKX wallet web extension to stake ETH and earn profits. Moreover, Index Coop is going to be featured on the Earn and Discover section of OKX Wallet, enabling users to experience seamless staking service on Ethereum.
Simulating Shanghai Sell-side: Investigating the Ethereum Unlock
The highly anticipated Shanghai/Capella hard fork is scheduled to take place on 12-April-2023, which enables withdrawals of staked ETH. In this piece, we establish cohorts of stakers, and assess the potential sell-side pressure which may occur due to the unlock event.
CFTC Defines Bitcoin, Ethereum, and USDC as Commodities in Latest Crypto Fraud Case Against Deutsche Bank Investment Banker
The CFTC has filed a civil enforcement action against former Deutsche Bank investment banker Rashawn Russell for digital asset trading fund fraud and misappropriation of investor assets.
Ethereum’s Shanghai Upgrade Only a Small Step Forward: Bank of America
Bank of America has warned that the limited throughput of Ethereum and increasing competition from alternative blockchains will constrain its adoption and usage, despite its first-mover advantage in introducing the idea of blockchain operating systems compatible with smart contracts and decentralized applications. The Shanghai upgrade, due to occur later today, will enable validators to withdraw staked ether and rewards that have been locked up. However, the upgrade does not address scalability and acts only as a precursor for future upgrades. Bank of America's report suggests that Ethereum's long-term viability will depend on the execution of its development roadmap, which includes the implementation of a sharding approach called Danksharding, but this is still years away. The bank expects heightened volatility around the upgrade due to decreased liquidity, derivatives activity, and because of the ether price action seen around the previous upgrade, the Merge.
Ethereum Price Falls Below $1,900 As Shanghai Upgrade Approaches
The market value of ETH fell from $1,921 to as low as $1,888 over a short period. That change was seen during the hour leading up to 8:30 p.m. UTC on April 11.
Crypto Morning Briefing: Bitfinex Becomes First To Get Crypto License Officially In El Salvador
Riot Platforms and Marathon Digital Lead Crypto Stock Gains as Bitcoin Settles in Above $30K; Ethereum’s Shanghai Upgrade Will Permanently Alter ETH Economics; Former Deutsche Bank Investment Banker Indicted for Cryptocurrency Fraud
CoFund Tokenizes $10M Hotel in Bali via Tokeny
On Apr. 11, tokenization infrastructure provider Tokeny announced a new partnership with Ethereum real-estate tokenization marketplace CoFund. The deal would enable CoFund to issue regulatory-compliant ERC-3643 security tokens on the Polygon (MATIC) network to tokenize a $10 million hotel in the Indonesian island resort of Bali.
NFT Marketplace Development On Ethereum Blockchain - A Detailed Process Behind
Non-Fungible Tokens is no longer a unknown term as it earned undisputed fame for itself in recent years. The Web3-based NFTs have earned more dignity and credibility from various audience communities on paving a new unprecedented route of revenue and investments.
