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The first three to five weeks after Ethereum’s upcoming Shapella upgrade will likely see an uptick in selling from unstaked deposits. The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella. The upgrades will enable withdrawals from Ethereum 2.0 staking contracts. The staking contract was first launched in December 2020. It only accepted one-way deposits of ETH, which will change after the upgrade. To date, users have deposited over 18 million ETH, worth around $32.5 billion, into the Ethereum staking contract at varying times since December 2020. Analysts vary on the estimates of ETH sell pressure Most users opted for liquid staking derivatives on decentralized or centralized exchanges. Because these stakers are already liquid, there will likely be no new reason to sell after the Shapella upgrade. Decentralized LSD platforms like Lido currently account for around 33.2% of the total ETH...

Shiba Inu is the most googled cryptocurrency in the U.S. for March 2023, Outlook reported. Data from Google trends indicate that under the search term for ‘cryptocurrency’, Shiba Inu took the top spot for related queries. Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire With Only $10 The search query for SHIB is up 70% this month, suggesting that users are keen to know more about the dog-themed token. In the related queries, Shiba Inu price, coin, and, coin price, came top on all the first three slots, respectively. Silver price and Dogecoin took fourth and fifth place while Cardano had a breakout in terms of search volume. Also Read: If SHIB Wants To Reach $0.01, What Should Its Market Cap Be? Why Are Investors Showing Interest In Shiba Inu? Source: Unsplash The spike in search volume and interest for SHIB could be due to the team launching the Shibarium public beta testnet. Investors are keen to know how Shibarium could sustainably scale up SHIB’s price ...

Join Our Telegram channel to stay up to date on breaking news coverage Terra Luna Classic price trades at $0.000125 with a bearish bias on Wednesday. This is the second bullish session as the LUNA 2.0 token seeks to shake off the bearish sentiments that have weighed it down over the past week following news of the founder Do Kwon’s arrest. The technical setup shows that LUNC could be readying for a breakout as it escapes from a bearish chart pattern. Factors Affecting LUNC Price Action LUNA Classic’s recent trend and price action can be attributed to a number of factors. One important determinant is the recent arrest of Do Kwon, the founder of Terraform Labs and the Terra ecosystem. Do Kwon is facing multiple charges from US prosecutors, including eight counts of fraud and criminal acts. South Korean authorities are also set to bring charges against him even as they continue their man-hunt for Shin Hyun-Seong (Daniel Shin), Terra’s co-founder. Do Kwon was fin...

A public burn() function introduced in the latest upgrade allegedly allows users to burn tokens from other addresses. SafeMoon, a project previously endorsed by A-list celebrities and social influencers such as Jake Paul and Soulja Boy, announced its liquidity pool (LP) was compromised. Without revealing further details about the attack, SafeMoon confirmed undertaking steps “to resolve the issue as soon as possible.” Just like many other crypto projects in 2021, SafeMoon was backed by numerous celebrities. However, a lawsuit from Feb. 2022 alleged that musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips mimicked real-life Ponzi schemes by misleading investors to purchase SafeMoon (SFM) tokens under the pretext of unrealistic profits. Jake Paul promoting SafeMoon token in 2021. Source: Twitter Investigating the SafeMoon hack shows that the attacker made away with approximately 27,000 BNB (BNB), worth $8.9 million. SafeMoon has not yet respon...

Owing to the latest Binance-CFTC episode, the state of the crypto market has worsened. Right after the largest exchange was sued, the community sentiment turned pessimistic and asset prices started dropping. That being said, companies continue to spread their wings into the ecosystem. Financial service giant Fidelity is currently on the lookout for a crypto and token research development lead to join its existing quantitative research and investments technology team. The “newly created senior role” will bridge the gap and help in guiding a team of quantitative developers supporting the crypto and token research team in asset management. According to the firm, the new leadership role will require the person to work on data and technical frameworks for the evaluation of tokens and the associated blockchain protocols that form the basis of the evolving crypto and DeFi economy. In fact, the head will also tie up with Fidelity business and technology leaders to “identify and ...

Many crypto projects have been looking at ways to improve their systems to make things quicker and easier for its users, and Polygon is one of these projects. Today, Polygon is taking one step closer to achieving this goal with the launch of the Polygon zkEVM mainnet beta. Polygon zkEVM Beta is the leading ZK scaling solution that is equivalent to Ethereum Virtual Machine. It is only natural for crypto fans to wonder if this new development could lead to the price of Polygon (MATIC) reaching a new all-time high (ATH). Journalist Pere Hen shared some predictions for MATIC made by the crypto community on March 20 this year. It seems like many people believe that an ATH might not be in store for MATIC. At one point, CoinCodex had a less than favorable Polygon prediction for 2023. They believe that the MATIC price could drop to just under $1.03 by 25 March, after which the altcoin could face further price declines to about $0.9924 by April 19, despite the zkEVM launch. In a...

American venture capital investor Tim Draper warned business founders to prepare for "more and more" bank failures if the government continues to "print money and whipsaw interest rates." American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies,in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB). In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on the Banks and on overbearing Government intervention, adding that businesses “can no longer rely” on a single bank or governing body to manage their cash. Some tips for business cash management post SVB. https://t.co/dVEw0EJJyZ #bitcoin #trust #freedom — Tim Draper (@TimDraper) March 24, 2023 Draper suggested that business founders keep at least “6 months of short-term cash" in two separate bank accounts...

Bitcoin and altcoins could see profit taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. The European stock markets fell on March 24 on renewed fears that the banking crisis could rear its ugly head once again. The latest selling was triggered after Deutsche Bank’s credit default swaps, which offer protection to the buyer against specific risks, soared on March 23 without any known catalyst. That pulled down the shares of the German lender by 11%.  European Central Bank President Christine Lagarde attempted to calm the markets, saying that the euro area baking sector was strong due to the regulatory reforms introduced after the Global Financial Crisis. That could be one of the reasons for the solid recovery in the United States equities markets from the intraday lows. Daily cryptocurrency market performance. Source: Coin360 Although the banking crisis has been positive for Bitcoin’s (BTC) price, the trend may pause if the contagi...

Newly revealed data has shown that Shiba Inu (SHIB) has its long-term holders selling amidst what could be a potential downturn. Moreover, the movement from these holders has arrived during an important period in the growth of the Shiba Inu ecosystem. SHIB holders have been privy to sideways movement in the market within the last few weeks. Subsequently, Glassnode has noted a decrease in the number of new network participants since the start of Feb. 2023. Source: Outlook India SHIB Struggling to Find Demand? Within the digital asset industry, there are few community bases as passionate as the SHIB Army. Grown from the meme coin craze that undoubtedly has a place in the market, the utility of the coin and the expansion of its ecosystem have been front and center. Now, it appears as though Shiba Inu (SHIB) long-term holders are selling amidst what could be a potential downturn. Specifically, BeInCrypto reported on-chain data that showcases how a “network growth decline an...

On Wednesday, the multi chain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi). Bitget Invests $30 Million in Bitkeep; Wallet Firm Is Now Valued at $300M Crypto derivatives exchange Bitget has announced that it has invested $30 million in the multi chain wallet company Bitkeep, making it the startup’s controlling stakeholder. Bitget detailed on Wednesday that the wallet will gain access to the exchange’s technology and security Features . Bitkeep is a multi chain wallet that allows users to connect to various defi applications and non-fungible token (NFT) projects. Bitkeep wallet users can access block chain s like Bitcoin (BTC), Solana (SOL), Fantom (FTM), Polygon (MATIC), Tron (TRX), Heco (HT), Ethereum (ETH), Binance Smart Chain (BSC), and OEC (OKT). The wall...

The crypto market is still riding the bullish waves despite a broader financial market collapse. So far, the nascent industry has surged 1.84%, with Bitcoin and Ethereum leading the rally. Defunct stablecoin maker LUNC is also profiting from this rally, as it is up 3.5% in the last 24 hours. With growing scrutiny targeted at the crypto market, will LUNC hold on to its surge and reach new price levels? LUNC Eyes New Price Levels At the time of writing, the Terra classic coin trades at $0.000129, following a surge of 3.55% in the last day. The digital asset decline in value has been ongoing for a while, with a 3.3% drop in the last seven days and 23.0% in the last month. This rebound could help the crypto asset find a foothold and head to a new price as the broader market rallies. With its price rise, LUNC’s previous slumps in value have influenced the technicals with bearish movement. The crypto asset trails all its major moving average (MA) indicators, ranging from the 50-da...

Author Neal Stephenson said that many Web3 problems come from projects wanting to financialize everything very quickly. Bestselling author Neal Stephenson spoke with Cointelegraph at the Paris Blockchain Week 2023, discussing various topics, including problems within the current Web3 ecosystem and the metaverse — a term Stephenson coined in his 1992 book titled Snow Crash.  According to Stephenson, many of the current problems within the space come from people wanting to "financialize everything too fast." Stephenson pointed out that many see the goal of getting lots of money and are eager to get to it. This leads to skipping over important steps that are necessary. The writer explained that:  “You know, financial institutions emerged slowly over time out of existing markets, and businesses that were functional, and they were making money for people. And then, over time, people constructed banks and stock markets and so on.” According to the author, this approach skips a ve...

Loved the Cointelegraph 2023 Top 100? Readers can grab the profiles as NFTs. Beginning March 20, folks across the crypto industry will be able to mint nonfungible tokens (NFTs) out of Cointelegraph’s 2023 Top 100. Cointelegraph unveiled its 2023 Top 100 list of the most impactful heroes and villains in the crypto and blockchain space in February. It was published in batches throughout the month, counting down to the top-ranked profile, with each entry including a bio and an animated picture. Check out Cointelegraph's 2023 Top 100 and collect the profiles Over a seven-day period starting March 20, the profiles of everyone on Cointelegraph’s 2023 Top 100 will be mintable as limited-edition NFTs. Only 100 NFTs can be minted from each profile, and minting is only available during the seven-day window. After that, interested buyers will have to look to secondary marketplaces if they want to pick one up. Purchasable via bank cards or Polygon’s MATIC (MATIC), each unique profile’s NFT s...