City Shanghai Financial News

Chinese autonomous vehicle startup Pony.ai has introduced its driverless robotaxi service in Shenzhen.

With its historic Merge event in September, Ethereum has become a proof-of-stake blockchain. The mechanism now used to confirm transactions relies on validators staking their Ether (ETH). Ethereum’s March upgrade, codenamed Shanghai, finally enabled stakers to withdraw their locked Ether. 

Chinese healthcare and energy sector providers will allow patients and customers to pay with the digital yuan, in new breakthroughs for the nation’s central bank digital currency (CBDC).

Nanjing City, the capital of Jiangsu Province in China, on May 22, inaugurated the China Blockchain Technology and Application Innovation Platform. This government-supported platform aims to foster and advance metaverse research and development across the country.

Chinese state-owned real estate firm Greenland Holdings has expressed interest in joining Hong Kong's digital assets hub.

A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so. 

Since the implementation of the Shanghai upgrade to the Ethereum mainnet just over one month ago, which allowed Ethereum validators to withdraw all or some of their staked Ether (ETH) tokens from the staking smart contract for the first time, demand for ETH staking has soared.

The decentralized finance (DeFi) space has been in correction mode, its current TVL of $50 billion representing less than a third of its peak in late 2021. The good news is that the market is preparing for another wave of DeFi adoption, primarily thanks to liquid staking tokens (LSTs), which have become the second-largest DeFi sector after decentralized exchanges (DEXs).

The Chinese arm of the French banking titan BNP Paribas announced it will launch a digital yuan wallet management platform, in another boost for China’s central bank digital currency (CBDC).

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In episode 18 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw sits down with Matt Leisinger, chief product officer at Alluvial — a software development company supporting the implementation of the Liquid Collective protocol — to explore the world of crypto staking and its potential to attract institutional investors. Leisinger explains the Liquid Collective and shares his thoughts on the future of Ether (ETH) staking after the Shanghai upgrade. 

The Ethereum price has risen by 1.5% in the past 24 hours, with its climb to $1,865 happening as its 24-hour trading volume moves above $8 billion.

The cryptocurrency market has fallen by 1.9% today, with its total cap dropping to $1.23 trillion in the past 24 hours as investors de-risk in anticipation of this week's FOMC meeting.

«Bitcoin continued to consolidate below the US$28,000 as investors eagerly await for the Federal Open Market Committee's meeting next week. BTC's current support level is situated around US$27,100, while its resistance level is at US$27,650. If the price drops below the support level, it could potentially plummet towards the US$26,500 level,» Edul Patel, Co-founder and CEO at Mudrex, said.Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said, «ETH is down around 1.9% and is trading in the $1.8k range for the last 24 hours. However, last week's Ethereum Shanghai upgrade saw a remarkable influx of 571,950 ETH deposits, worth over $1 billion, for staking. This has been the largest weekly token inflow for ETH ever. This surge was largely attributed to institutional staking service providers and investors who reinvested their rewards following withdrawal.» Other top crypto tokens were also trading lower on Tuesday. BNB, XRP, Cardano, Dogecoin, Polygon and Polkadot declined up to 3%. The global cryptocurrency market cap was trading lower around $1.15 trillion, falling 1% in the last 24 hours.

The Ethereum price has dropped by 2% in the past 24 hours, falling to $1,810 following the news that a participant in the cryptocurrency's 2016 ICO has moved 1 ETH to a new address.

«Bitcoin dropped for the second consecutive session, as the price fell to the level of US$28,100 due to an increase in selling pressure. As a result, the gains made by Bitcoin in the past seven days were erased. Despite this setback, there is still strong support at the US$26,500 mark, which was the low point in late March,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower on Thursday. Dogecoin declined by over 8%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with cuts. The global cryptocurrency market cap was trading lower around $1.19 trillion, falling 2.49% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $542 billion. BTC volume stood at approximately $20.41 billion, falling 20.86% in the last 24 hours. Bitcoin’s dominance is currently 45.81%, a decrease of 0.20% over the day, according to CoinMarketCap.

Cointelegraph Markets Pro stunned traders on April 8th with a massive 379% gain from a single alert. The AI-powered crypto trading platform detects market-moving events as they happen. One of the indicators pointing to these events is the VORTECS™ score.

Bitcoin, the world's largest cryptocurrency, has been quite fabulous since the start of 2023, soaring over 70% in the first quarter. 

The Ethereum price has fallen by 1.5% in the past 24 hours, as the cryptocurrency market suffers a similar 2% fall in the same period.

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Bitcoin, the world's most popular cryptocurrency, faced a temporary dip on Tuesday as its value dropped slightly from $30,500 to $29,300. However, this decline was short-lived, and Bitcoin quickly rebounded, surging back up to the $30,000 mark and recovering from its previous losses.