Pendle uses a dual-token model that breaks up and represents any investment into a decentralized finance (DeFi) protocol, such as Compound or Aave, into two parts: one, the initial principle put up by an investor, and two, the future yield expected to be earned on that position in the form of token rewards. Source
Liquid staking tokens also rise on Wednesday. Bitcoin holds steady above $28,000. Source
The latest price moves in bitcoin (BTC) and crypto markets in context for April 5, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Bitcoin (BTC) headed back toward $29,000 into April 5 as data showed whale orders guiding price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysis: BTC price push still “bear market rally” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit $28,780 on Bitstamp. The pair continued a rebound from one-week lows under $27,300 seen at the start of the week courtesy of rumors around biggest exchange Binance and its CEO, Changpeng Zhao (known as CZ). After reclaiming $28,000, Bitcoin saw fresh momentum as Binance order book…
The 1 million instantly withdrawable ether has become a point of concern for the market. Source
However, as the upgrade approaches there will be an “increased realization” that nearly 70% of staked ether is via liquid staking protocols such as Lido and they allowed investors to sell their stETH regardless, “so liquidity for 70% of staked ETH is now new, they could do it anyway,” the note said. Original Source AheadBernsteinBREAKINGEtherEthereumsShanghaiupgrade CryptoX Portal
“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. Source
“ETH looks to regain ground against BTC as part of a broader capital rotation play,” one observer said. Source
Full withdrawals, on the other hand, are when you remove the entire balance, including the 32 ETH, from the blockchain. This means that your validator will stop participating in the block validation process. Full withdrawals won’t happen automatically because the validator needs to send a message to the blockchain to add itself to the exit queue. This takes time and will be released gradually. Source ETHEtherEthereumsForkHardNearingShanghaiStakedWithdraw CryptoX Portal
Developers use gETH tokens for testing purposes. These tokens are a testnet version of actual ether for developers to simulate transactions, smart contacts, and other activities prior to deploying on the Ethereum mainnet. This means that these tokens are supposed to be free – issued simply for testnet developers. Original Source AliveArguesCanaryDAOEtherEthereumGoerliNetwork CryptoX Portal