Ethereum Financial News

cryptocurrency market experienced a significant surge, with Bitcoin leading the charge and gaining over 30%. The rally can be attributed to several factors, including a massive short squeeze, a billion-dollar buy by Binance, the Fed's response to the banking crisis, and news on Ethereum's upcoming update. Over $300 million in leveraged BTC short positions were liquidated, resulting in over $300 million in buying pressure for BTC. This is a substantial amount during a bear market when it doesn't take nearly as much money to move prices up or down. The rally was also helped by the fact that Binance turned $1 billion worth of BUSD into BTC, ETH, BNB, and other unnamed cryptocurrencies. Another factor is the official announcement of the Ethereum Shanghai hard fork update date (April 12), which will allow users to withdraw their staked ETH and is expected to stimulate Ethereum market demand. Institutional investors are expected to find ETH more appealing because they love yield, and the ability to earn a yield on what is effectively the next network for payments is an attractive prospect. It is believed that many institutions were hesitant to stake ETH because it wasn't possible to unstake, but this will change with Shanghai, and millions, if not billions, of dollars could flow into ETH in the days and weeks that follow. BTC is also considered sensitive to changes in money supply, and as such, many have argued that the increase in the size of the Fed's balance sheet is the key driver of the rally.

Ahead of the 12 April completion of the Shanghai upgrade, Ethereum [ETH] has taken the mantle as the blockchain with the most active developers in the Layer one (L1) and Layer Two (L2) ecosystems.

March has been quite an interesting month for the crypto market and especially for ETH. But now that the month is coming to an end, it is important to reflect on Ethereum and ETH’s performance which may offer insights into what to expect in April.

Data from the Personal Consumption Expenditures (PCE) index showed an uptick of 0.3% in February, which lower than the 0.5% increase seen in January. Economists had projected a rise of 0.4% and the PCE data suggests that inflation is gradually showing a decreasing trend. 

Optimism’s [OP] network usage has been declining for quite some time. This was evident from Dune’s data, which pointed out a reduction in gas usage. The total number of transactions also fell, suggesting fewer users on the network.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

DeeLance, a novel Web3-powered freelancing and recruitment platform, is poised to disrupt the $761 billion recruitment industry and create a seamless hub where freelancers connect with potential employers and earn crypto rewards. 

The token powering the largest smart contracts platform, Ethereum is consolidating on Friday while holding support at $1,800 ahead of the release of key economic data. Ethereum price slowed down its aggressive push witnessed in March in tandem with the largest crypto asset, Bitcoin on reaching resistance at $1,850.

The first quarter of 2023 has seen the crypto market experience exponential growth, setting the stage for new and exciting projects to debut. 

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

The social stats for the crypto market are out and Aptos has earned its way into the list of the top most talked-about projects on the crypto streets.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Hedera [HBAR] , the decentralized enterprise-grade public network got an opportunity to discuss the idea behind its project at a U.S. Department of state meeting.

As the weekend approaches, cryptocurrency enthusiasts are keeping a close eye on Bitcoin (BTC) and Ethereum (ETH), wondering if these leading digital assets will manage to break free from their recent tight trading ranges. 

Having dominated other cryptocurrencies in the market, price, and social activity, Avalanche [AVAX] was one of the best performers in March.

Decentralized autonomous organization (DAO) treasuries are rapidly growing having just surpassed a major milestone, according to DeepDAO.

The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella.

Gnosis, the team behind Gnosis Safe multi-sig and Gnosis Chain, has launched a hash oracle aggregator for blockchain bridges, according to an announcement from the company. In a conversation with Cointelegraph, Gnosis CEO Martin Köppelmann stated that the new aggregator should make bridges more secure by requiring more than one bridge to validate a withdrawal before it can be confirmed.

The major crypto exchange Binance has seen a whopping $2.2 billion in outflows after news broke that it has been sued in the US by the Commodity Futures Trading Commission (CFTC).

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________