We are seeing a sell the rumor buy the fact redux, one observer said, explaining ether’s post-Shanghai upgrade rally. Source
Ether Tops $2K After Shanghai Upgrade, Outshines Bitcoin
Tag: Ether
Binance To Support Ether Staking Withdrawals From April 19
Binance said that user requests for withdrawals, once submitted, cannot be canceled and the process may be slow initially, requiring 15 days to several weeks for completion. Users will receive redeemed ether in their spot wallets and pending BETH tokens locked in pending ETH withdrawal requests won’t be eligible for staking rewards. BETH is a wrapped token issued by Binance which is 1:1 pegged to ETH on the Ethereum blockchain. Source
Kraken Leads Ether Unstaking Parade, Makes up 62% of Exit Queue
“The complaint alleges that Kraken touts that its staking investment program offers an easy-to-use platform and benefits that derive from Kraken’s efforts on behalf of investors, including Kraken’s strategies to obtain regular investment returns and payouts,” the SEC said in a release from February. Source
Bitcoin Hovers Around $30K, Ether Holds Above $1.9K Ahead of Shapella Upgrade
Investors are awaiting Ethereum’s upgrade, which is expected to go live late Wednesday. Source
Crypto Analysts Split on Ether Market Trends After Ethereum’s Shanghai Upgrade
“We expect 553,650 ETH will be sold. Amortized over 7 days, this amounts to approximately 1% of daily ETH volume (including spot and perpetual futures volume) of selling per day for a week,” analysts at Galaxy Digital said in a note published early this month. “Depending on the risk environment broadly and overall liquidity in Ether during the Shanghai upgrade, expected on Wednesday, April 12, we view this amount as ranging from inconsequential to slightly bearish ETH/USD.” Source
Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade
Glassnode said the estimate was made based on a “50% withdrawal credential update, our segmentation of depositors, and assumptions regarding investor conviction, and profitability” by using wallet behavior, period of staking and presence of liquid staking derivative products, such as Lido. Source
Bitcoin Slips Under $30K, Ether Staking Tokens Take a Beating Ahead of Shapella Upgrade
“Allowing withdrawals, boosted by the recent popularity of liquid staking platforms, will make ETH staking much more accessible to retail investors who were previously unwilling to stake ETH for an undetermined amount of time,” said Chen Zhuling, CEO at staking service RockX, in a note to CoinDesk earlier this week. Source
Bitcoin BTC Price Holds Firm Above $30K, Ether ETH Price Hovers Near $1.9K Ahead of CPI, Shapella Upgrade
Among other digital tokens, Solana’s SOL surged over 12% to trade around $23.2, while ETC, the token of Ethereum Classic, an offshoot, or fork, of Ethereum, gained over 4% to change hands at $21.6. The CoinDesk Market Index, which measures overall crypto market performance, was up 2.3% for the day. Source
Bitcoin, Not Ether, Builds Crypto Market Dominance Ahead of Ethereum’s Shanghai Upgrade
“BTC got the store-of-value narrative back after multiple U.S. banks failed in mid-March. Since then, BTC’s dominance rate has been rising,” Dubai-based crypto analyst and trader Reetika Malik said. Dominance rate is now at a “multiyear resistance” that has capped the upside in the past, meaning ether and other coins could soon outshine bitcoin, per Malik. Source
Ether Capital CEO: Shanghai Upgrade Likely to Be a 'Non-Event' on ETH's Price
The upgrade may not shift the second largest cryptocurrency’s price immediately, but it may in time unlock a new group of investors, Brian Mosoff, said. Source