Ethereum’s important upgrade “Shanghai” approaching, BTC remains at the $ 30,000 level

Macroeconomics and financial markets

In the US NY stock market on the 11th, the Dow closed at $98 (0.29%) higher than the previous day, while the Nasdaq was down 0.43%.

With the announcement of the CPI (US Consumer Price Index) at 9:30 p.m. Japan time, the price movement remained small. The composite index has been on a downward trend so far, and although it is expected to drop -0.8% from the previous month, the core index excluding food and energy tends to remain high.

Depending on the results, it will affect the Fed’s (US Federal Reserve) interest rate hike decision at the US Federal Open Market Committee (FOMC) meeting in May. The minutes of the FOMC meeting will also be released at 3:00 am on the 13th.

With the soaring price of Bitcoin (BTC), crypto assets and blockchain sectors such as US crypto asset exchange Coinbase, major mining (BTC mining) Riot Platforms, Marathon Digital, Micro Strategy and Galaxy Digital, etc. Related stocks soared.

connection:NY Dow continues to rise slightly, virtual currency-related stocks rise, CPI announcement tonight | 12th Financial Tankan

connection:Stock investment recommended for cryptocurrency investors, representative cryptocurrency stocks of Japan and the United States “10 selections”

Virtual currency market

In the crypto asset (virtual currency) market, Bitcoin fell 0.05% from the previous day to $30,000.

BTC/USD daily

There is a thick resistance line (upper resistance line) at the first half of $30,000, which is the bottom price range of the previous virtual currency bubble 2021, and mass selling is also observed.

According to data from derivatives analysis site coinglass, the Bitcoin futures market has lost $107 million worth of short positions (forced liquidation) in the past two days, but the scale is limited compared to past surges.

Data from The Block suggests that investors are paying a premium for bullish call options in the options market.

The block

ethereum

Ethereum (ETH) fell 2.8% from the previous day, leading to profit-taking selling.

We are about 20 hours away from the Shanghai Upgrade (Shapella) hard fork, which will allow Ethereum validators to withdraw their locked-up assets. It is expected to be deployed to the mainnet around 7:30 (22:27 UTC) tomorrow Japan time.

It’s happening

Shapella is scheduled on mainnet for epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023

Client releases compatible with the upgrade are listed in the announcement below https://t.co/I0hSv9lnjz

— timbeiko.eth (@TimBeiko) March 28, 2023

According to data from on-chain analytics firm Glassnode, beaconchain contracts have unrealized losses worth $4.7 billion. At the time of the Terra (LUNA) shock crash in May last year, it reached -$16 billion.

Currently, the net unrealized loss on the #Ethereum Beacon Chain amounts to $4.7B, down from the peak of $16B hit during the LUNA implosion.

The largest of depositors (+500 Validators) are experiencing the highest degree of financial pain, holding 70% of the unrealized losses. pic.twitter.com/EHk1A2w6Dy

—glassnode (@glassnode) April 11, 2023

When the beacon chain was first launched (November 2020), the Ethereum price was about $500, but after the bull market, ATH was updated. In November 2009, it soared to about $5,000. Currently 1ETH = $1,860.

Kiln survey of institutional participants with over $10 billion in assets under management found only 9% plan to unstake after Shapella upgrade, 68% start new staking , and is said to be considering compound interest operation.

connection:What is the ETH “Shanghai” upgrade?Summary of each company’s view on staking cancellation and ETH selling pressure

[Recruitment]Recruitment of new personnel due to Web3 business expansion

Japan’s largest cryptocurrency media CoinPost is looking for full-time employees and interns as it expands its Web3 business.

1. Media Business (Editorial Department)
2. Marketing operations
3. Conference management and launch work
4. Open Position (students welcome)

Details https://t.co/UsJp3v8mSH pic.twitter.com/B98JZmoQbW

— CoinPost-virtual currency information site-[app delivery](@coin_post) February 14, 2023

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