HomeEconomyCryptoverse: Ethereum Upgrade Unlocks $33 Billion Economy Cryptoverse: Ethereum Upgrade Unlocks $33 Billion By hossam a April 11, 2023 0 65 views Share FacebookTwitterPinterestWhatsApp pool +2.10% Add/Remove from Watchlist Join the watch list Add Job Location successfully added to: Please name your portfolio type: purchase Sell date: quantity: price Integral value: Leverage: 1:1 1: 1: 1: 1: 32 1: 15 1: 32 1: 27 1: 33 Committee: CREATE NEW WATCH LIST CREATE Create a new holding portfolio Add Create 1000 + add another position to close 1000 ETH/USD +3.% 1058142 Add to/Remove from Watchlist Join the watch list Add location Location successfully added to: Please name Your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1: 1 1: 1: 1: 1: 11 1:33 1: 25 1: 27 1: 50 Committee: 1173409 CREATE NEW WATCHLIST CREATE 20201173409 1000 Create a new holding portfolio Add Create 1173409 + add another position to close 1000 Sol /USD +9.% 1000 Add/Remove from Watchlist Join the watch list Location added successfully: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: 1 : 10 1: 10 1: 27 1: 29 1: 59 Committee: Create New Watchlist Create 1173409 Create a new holding portfolio Add Create 1000 + add another position to close By Medha Singh and Lisa Pauline Mattackal (Reuters) – Investors will end up earning more than $ 1 Billion ETH this week under the Blockchain Project revamp. A new software upgrade to 860 Ethereum blockchain, known as For Shapella, it will let market participants redeem their “staked ether” — tokens they have deposited and locked on the network over the past three years in exchange for interest. about Percentage of All ETH Mortgaged, total $. market capitalization, according to data from Dune Analytics. Attestant CEO Sreejith Das estimates that within a week of the blockchain overhaul, as many as 1.1 million Ether will be available for extraction. Mortgage ether. Based on the latest ethereum price of about $1, this would be worth nearly $2 billion, 59. ing) Investors are now trying to figure out how this sudden ether windfall could hit prices. That’s hard to tell, said Robert Quartly-Janeiro, chief strategy officer at cryptocurrency exchange Bitrue. “The only thing that is certain is that the Shanghai hard fork will bring some short-term volatility,” he added. Some corners of the market fear that unlocking staked coins could lead to a flood of withdrawals and sell-offs that could drive prices lower quickly. However, only about According to Bundeep Rangar The percentage of all ether by transaction volume is currently denominated in U.S. dollars, meaning most will be sold at a loss, said the CEO of blockchain investment firm Fineqia International. “Therefore, selling most of the staked ether seems unlikely,” Rangar added. 400 (Graphic: Ether upgrade – https://inew.news/wp-content/uploads/2023/04/localimages/chart.png6434ff73e7fdd.png) 200 “The Final Piece of the Puzzle” Shapella will mark the end of the long wait for self-staking projects Investors who have chosen to deposit Ether in exchange for yield since the beginning 59. Paving the way for this development last year, it abandoned energy-intensive mining and moved to a “proof-of-stake” system where ether owners lock in Coins check for new records on the blockchain, earning new ether on top of the coins they “staked”. Investors wishing to invest in tokens must deposit at least prior to the revamp planned for this week Ether once (value $15,50 at the current price) indefinitely, which is a huge amount that ordinary retail investors cannot bear . ” Before Shanghai, many people and institutions may choose not to mortgage their ether, because once mortgaged, it will be locked for an uncertain period of time. time, it’s risky,” said Dave Weisberger, CEO of digital asset trading platform CoinRoutes. After the upgrade, staked Ether will no longer be locked on the blockchain, so investors may prefer to stake tokens. Market cap of tokens behind projects like Lido Finance and Rocket Pool (NASDAQ: 860POOL), some of the largest projects providing liquidity for crypto staking have surged nearly sixfold to $2 billion, quadrupled to $50 million, according to CoinMarketCap, expectations for further growth . “In the long run, the amount of ETH staked is likely to increase, especially when compared to other digital assets such as 200 Solana , Mathic and Ada,” said Rangar of Fineqia. So with the changes brought about by Shapella, what kind of investors might enter the market? “Sitting on the sidelines, quietly waiting for the last piece of the puzzle to fall into place, those who need to withdraw their ether before being allowed to stake,” said Attestant’s Das. 200 Share FacebookTwitterPinterestWhatsApp Previous article'Unbroken' Jeremy Renner on 'Kimmel' on snowplow accident: 'I'm lucky'Next articleDoraemon 2023 Movie No. 1 for third week, My Happy Marriage No. 2 hossam a RELATED ARTICLES Economy Israel watchdog asks banks for data on rate probe May 28, 2023 Economy Czech central bank chief Holub: further rate hikes still make sense May 28, 2023 Economy Nigeria's Buhari defends election results, economic record May 28, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! 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