Riding The Wave News Summary 133

Withdrawals are coming!’ — Ethereum devs confirm epoch for Shapella fork, Breaking: Shanghai upgrade executed on testnet but not without issues, & more

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News

Table of Contents

1. Tweets

2. ‘Withdrawals are coming!’ — Ethereum devs confirm epoch for Shapella fork

3. Breaking: Shanghai upgrade executed on testnet but not without issues

4. Elizabeth Warren is pushing the Senate to ban your crypto wallet

5. Mysterious entity may be collecting BTC users’ IP addresses — Bitcoin developer

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Tweets

Plan©️ @TheRealPlanC

#Bitcoin has reclaimed the 2-year EMA ($27,559). Will this significant level hold? The previous 2 cycle lows occurred when #BTC was 45% to 55% below the 2-year EMA. The FTX low was 50% below. ✔️

Jesse Myers (aka, Croesus 🔴 "crease-us") @Croesus_BTC

This is the moment you've been waiting for with #Bitcoin We may never see Bitcoin's price this low again. A thread on why...

Watcher.Guru @WatcherGuru

JUST IN: 🇸🇦 Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.

ALTBTC𝕔𝕪𝕔𝕝𝕖𝕤 🔄 @JJcycles

Below #Bitcoin versus the MOVE index (Bondmarket volatility). Historically is has never been a good time to short BTC as bond market volatility starts spiking. The MOVE index started spiking recently. H/T @LukeGromen

Plan©️ @TheRealPlanC

#Bitcoin cycle mechanics. 🟡 Second Highest ✔️ 🔴 Second Lowest ✔️ #cycle #btc

Plan©️ @TheRealPlanC

#Bitcoin ✍️ Where are we in the cycle? Cross coming in the next 5-10 days 👀 #crypto #btc

Bitcoin Archive @BTC_Archive

BREAKING‼️ Gaming company Zebedee just launched #Bitcoin Lightning-powered international payments between the U.S., UK, EU, Brazil and the Philippines - The Block ⚡️🇺🇸🇬🇧🇪🇺🇧🇷🇵🇭⚡️

Cryptofungus @Cryptofung

how much worse can it get?

Watcher.Guru @WatcherGuru

JUST IN: 🇭🇰 Hong Kong regulators to assist #crypto firms with banking in effort to become a digital asset hub.

Watcher.Guru @WatcherGuru

Michael Saylor's MicroStrategy $MSTR now holds 138,955 #Bitcoin worth $3.87 billion.

The Kobeissi Letter @KobeissiLetter

U.S. regulators just sued Binance, the world's biggest crypto exchange. Last week, regulators told Coinbase to expect enforcement action. Coinbase said regulation is one of crypto's "biggest threats." We've researched crypto lawsuits and the data is alarming (a thread): 1/10

Watcher.Guru @WatcherGuru

JUST IN: #Binance and CEO sued by US CFTC over alleged regulatory violations.

unusual_whales @unusual_whales

BREAKING NEWS: Silicon Valley Bank, $SIVB, has just been sold to First Citizens Bank, $FCNCA, for $500 Million

The Kobeissi Letter @KobeissiLetter

Over the next 5 years, more than $2.5 trillion in commercial real estate debt will mature. This is by far more than any 5 year period in history. Meanwhile, rates have more than doubled and commercial real estate is only 60-70% occupied. Refinancing these loans is going to be… https://t.co/Hsiq6vg75e

Watcher.Guru @WatcherGuru

JUST IN: MicroStrategy has purchased an additional 6,455 #Bitcoin ($150 million).

The Kobeissi Letter @KobeissiLetter

Key Events This Week: 1. Consumer Confidence data on Tuesday 2. Home sales data on Wednesday 3. Q4 2022 GDP data on Thursday 4. Treasury Sec. Yellen speaks on Thursday 5. PCE inflation data on Friday 6. 4 Fed speakers this week RT & LIKE if weekly previews are helpful!

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‘Withdrawals are coming!’ — Ethereum devs confirm epoch for Shapella fork

Ethereum validators will soon be able to withdraw their Ether from the Beacon Chain, with the Shapella hard fork set to be activated on the Ethereum mainnet on April 12.

Shapella will take effect at epoch 194,048, which is scheduled for 10:27 pm UTC on April 12, Ethereum core developers confirmed.

While the hard fork will allow for partial and full withdrawals, several mechanisms are set in place to ensure a flood of Ether doesn’t disrupt the market.

Full Article

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Breaking: Shanghai upgrade executed on testnet but not without issues

The hard fork will allow for partial and full withdrawals, and will theoretically unlock 17.6 million ETH when Shapella is forked, which equates to over $30 billion at current prices.

However several mechanisms are in place to prevent a flood of the ETH supply from hitting the market, according to the Ethereum Foundation.

The Shanghai upgrade will enable phased validator withdrawals, allowing users who have been staking to access their staked $ETH and staking rewards.

There are 522K active validators on Ethereum, and once the upgrade comes, only ~1.6k-1.8k validators would be able to exit per day pic.twitter.com/ewCvD7u1ER

— ParaSpace (@ParaSpace_NFT) March 8, 2023

The number of withdrawals allowed within a 24-hour period will only represent about 0.40% of the total staked ETH because only an approximate 2,200 withdrawals can be processed per day.

Full Article

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Elizabeth Warren is pushing the Senate to ban your crypto wallet