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☆ Dollar, yen buoyed as U.S. banking sector fears put safe-havens back in vogue
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar and the yen, both safe haven assets, were mostly steady after spiking higher overnight as renewed concerns over the U.S. banking sector and economy dented risk sentiment. The dollar index , which measures the currency against six major rivals, nudged 0.01% higher to 101.80 following a 0.5% increase overnight. The traditional safe-haven gained 2.6% in March amid fears of a widespread banking crisis but has lost 0.6% for the month of April. U.S. consumer confidence dropped to a nine-month low in April, data overnight showed, heightening the risk that the economy could fall into recession this year. The Australian dollar was swinging between losses and gains after data showed inflation eased from 33-year highs in the first quarter, while core inflation dipped below forecasts.

☆ Bitcoin surges 9% toward key level of $30,000 as crypto market rallies amid fresh banking sector fears
▼ + stars: | 2023-04-26 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

The rally comes as First Republic Bank stokes fresh fears over weakness in the banking sector. Investors are also adding risk as they anticipate a Fed pivot, a crypto exec told Insider. First Republic Bank stock nosedived almost 50% on Tuesday and lost another 20% Wednesday, hitting a record low, after reporting higher-than-expected customer deposit withdrawals. Bitcoin rallied through the turmoil in March as Silicon Valley Bank failed, and industry observers said a similar situation is playing out for the world's largest crypto amid the latest bout of uncertainty. Another crypto exec echoed similar sentiments, adding that the slew of bank failures like Silicon Valley Bank last month made investors question the stability of traditional financial services.

☆ Bitcoin volatility is back to pre-banking crisis lows, but crypto futures show investor optimism is building
▼ + stars: | 2023-04-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

This means traders expect bitcoin prices will increase and may be willing to pay a premium for longer-dated futures contracts in anticipation of those higher prices. The banking crisis opened many investors' eyes to the range of bitcoin's nonspeculative use cases, specifically its potential as an alternative banking system. As worries about U.S. banks have waned and inflation has eased, some are concerned the fallout from the U.S. banking crisis could tilt the economy into recession this year. The drop in bitcoin volatility also comes as the stock market's "fear index," the Cboe Volatility Index , has fallen to about 17 from 26 at the height of the banking crisis. New catalysts for volatility While the banking crisis briefly put some life back into the crypto market , tension between the crypto industry and U.S. regulators remains as a dark cloud over it.

☆ Startups want to use blockchain technology to improve the carbon-credit markets. Here's why big names in the climate industry are warming up to the idea.
▼ + stars: | 2023-04-22 | by ( April Joyner | ) www.businessinsider.com time to read: +8 min

Startups including Toucan and Topl are building blockchain tools for issuing carbon credits. Several companies, including Toucan, Return, Topl, and Open Forest Protocol, are now aiming to improve the transparency and reliability of carbon credits by coupling climate initiatives with blockchain technology. Erin MurphyThe need for greater transparency in carbon marketsCompanies buy carbon credits to offset the amount of greenhouse-gas emissions their business activity generates. Aureus EarthThe potential benefits of credits on the blockchainThat's where blockchain technology comes in, Murphy and other proponents said. Despite the flaws of that initial attempt, it showed ample market demand for blockchain-based carbon credits, Hoopes said.

☆ Creator of Nansen's Shanghai dashboard breaks down the data following the upgrade
▼ + stars: | 2023-04-19 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCreator of Nansen's Shanghai dashboard breaks down the data following the upgradeCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Following Ethereum's latest upgrade, Crypto World spoke with Niklas Polk, a research analyst with the blockchain analytics platform Nansen, about the new Shanghai dashboard he helped create and the data it revealed regarding ETH withdrawals.

☆ Bitcoin and ether fall as investors weigh persistent inflation and rising interest rates
▼ + stars: | 2023-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin has been closely correlated with stock indexes, in particular the Nasdaq, which rose on Wednesday after the U.S. Federal Reserve hiked interest rates by 0.75 percentage point. The price of bitcoin was last lower by about 3% and trading at $29,202.54, while ether fell 5% to $1,977.28. Bitcoin slid toward $29,000 on Wednesday as traders mulled over the likelihood that Federal Reserve rate cuts may be further away than they thought. Meanwhile in the U.S., Atlanta Federal Reserve President Raphael Bostic said Tuesday that he anticipates one more 25 basis point interest rate increase and then a hold "for quite some time." "It is hard to trust any crypto rally with the state of market liquidity, so a sharp drop towards the downside is hardly a surprise."

☆ What is crypto, and is it making a comeback?
▼ + stars: | 2023-04-18 | by ( Raphael Sanis | ) www.businessinsider.com time to read: +1 min

Morning Brew Insider recommends waking up with, a daily newsletter. Loading Something is loading. download the app Email address By clicking “Sign Up,” you also agree to marketing emails from both Insider and Morning Brew; and you accept Insider’s Terms and Privacy Policy Click here for Morning Brew’s privacy policy. The value of the digital coins peaked in 2021 before crashing in 2022, and the bankruptcy of FTX shook the industry. The future is still murky, as skeptics say the digital coins need to prove their worth.

☆ Bitcoin dips below $30,000 to start the week as crypto investors refocus on economic concerns
▼ + stars: | 2023-04-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrencies fell on Monday as investors put excitement from Ethereum's "Shapella" upgrade behind them and refocused on upcoming bank earnings and recession concerns. Bitcoin fell 3% to $29,515.35, according to Coin Metrics, falling below the key $30,000 it hit last week for the first time since June. Crypto is coming off a winning week in which prices were boosted by optimism around Ethereum's latest tech upgrade, dubbed "Shapella" (also known as "Shanghai"). Crypto investors are watching bank earnings this week for more insight about the health of the sector and possibility of a coming recession. For this week, any downside potential "should not be severe" or keep bitcoin from continuing on its uptrend, Hasegawa said.

☆ Crypto trading could take a breather after ‘Shanghai’ rally, as investors refocus on banks and economy
▼ + stars: | 2023-04-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

While ether climbed throughout the week, bitcoin – the outperformer this year – was trading more choppily. Or will it be an event where people are losing money broadly and economic concerns spill over into the crypto space." "I think it could go either way, but so far what we see in the crypto space is encouraging," he added. "Investors could continue to be picky and look for perceived quality, even in the crypto space," she said. "That's helped bitcoin this year since it's seen as a risk asset outside of crypto, but a store of value within crypto.

☆ Ether rallies 12% in two days, topping $2,100 after tech upgrade
▼ + stars: | 2023-04-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Ether, the digital token of the Ethereum blockchain, is the second-largest cryptocurrency in the world by market value. Cryptocurrencies built on their post-Shanghai/Shapella gains Friday as investors breathed a sigh of relief that Ethereum's latest tech upgrade was completed successfully and without some of the potentially negative aftereffects they initially feared. Ether rose another 5% Friday morning to $2,113.73, bringing its two-day gain to nearly 12%, according to Coin Metrics. It's on pace to end the week up 14%The ETH rally lifted other cryptocurrencies, with bitcoin rising more than 1% to $30,795.99. The largest cryptocurrency by market cap climbed to $30,000 on Monday, for the first time since June.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailButerin lays out Ethereum's next move, and crypto mining firm Bitdeer goes public: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bitdeer's chairman Jihan Wu lays out what to expect after the bitcoin mining company finally goes public.

☆ Ether rises after the Shanghai upgrade, bringing year-to-date gain to more than 65%
▼ + stars: | 2023-04-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The price of ether climbed on Thursday, after investors put uncertainty surrounding the long-awaited Shanghai upgrade behind them. Ether rose more than 4.5% to $1,989.02, according to Coin Metrics, while bitcoin gained more than 1%. After a two-year lock up period, Ethereum staking withdrawals were enabled by the Shanghai upgrade around 6:30 p.m. Investors were optimistic but cautious in the weeks leading up to Shanghai, also known as "Shapella." Noelle Acheson, an economist and author of the "Crypto is Macro Now" newsletter said she's skeptical the sudden move higher in ether isn't entirely Shanghai-driven.

☆ Ether is poised to climb higher with the uncertainty of 'Shanghai' behind investors
▼ + stars: | 2023-04-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +7 min

Market participants say that with all the uncertainty out of the way, ether may finally catch up with bitcoin. After Shanghai Investors can now withdraw staked ether from the network for the first time ever: This is one of the biggest attractions of the Shanghai upgrade. This Merge ultimately made more liquidity available to ether investors and stakers. "Dominance" measures how a crypto asset like bitcoin is performing relative to its peers in the crypto market. That correlation has declined, however, in part because market participants have favored bitcoin over ether ahead of the Shanghai upgrade.

LONDON, April 13 (Reuters) - Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments. The software upgrade, known as "Shapella," was set to unlock more than $30 billion worth of ether , the second-biggest cryptocurrency, which investors had deposited on the Ethereum blockchain in return for interest. Until Wednesday's upgrade, investors could not withdraw funds they had deposited via this method, known as "staking", on the Ethereum blockchain. As of Thursday, ether worth around $1.4 billion was stuck in a withdrawal queue, blockchain data firm Nansen said. "Due to the processing limitations on the Ethereum network, Binance will set a daily ETH redemption quota for each Binance user," Binance said on its website.

☆ Wave Digital Assets discusses ethereum upgrade to unlock $33 billion
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEthereum upgrade to unlock $33 billion won't pressure price that much: Wave Digital AssetsDavid Siemer of Wave Digital Assets says there is a queuing system that will take a "pretty long time" to clean out, and "it's not like it all got unlocked in a nanosecond."

Known as Shapella, the latest upgrade to the Ethereum blockchain since its Merge upgrade will enable investors to redeem an offshoot of ether tokens that they have deposited in return for interest on the blockchain network over the past three years. Such so-called "staked ether" tokens currently account for about 15% of all ether tokens, according to data firm Dune Analytics, and are worth some $31 billion. Deposits & withdrawals for ETH, OP, ARB and ERC-20 tokens via the Ethereum, Optimism, and Arbitrum networks are now back online," Binance said in a tweet. The changes will likely lead to heightened volatility for ether, investors have predicted. In its last significant upgrade, Ethereum in September drastically reduced its energy usage - a move proponents said would give Ethereum an advantage as it seeks to surpass bitcoin.

April 12 (Reuters) - The software that underpins the second-biggest crypto coin ether is due for a software upgrade on Wednesday that will give investors access to more than $30 billion of the digital tokens. Such so-called "staked ether" tokens currently account for about 15% of all ether tokens, according to data firm Dune Analytics, and are worth some $31 billion. The upgrade is due for around 2230 GMT, according to a tweet by Tim Beiko of the Ethereum Foundation, a body that speaks for the Ethereum network. loadingThe changes will likely lead to heightened volatility for ether, investors have predicted. In its last significant upgrade, Ethereum in September drastically reduced its energy usage - a move proponents said would give Ethereum an advantage as it seeks to surpass bitcoin.

☆ New 'Shapella' upgrade unlocks $31 billion in Ether coins
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew 'Shapella' upgrade unlocks $31 billion in Ether coinsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Mackenzie Sigalos, CNBC.com technology reporter, joins the show to discuss the big upgrade for Ethereum.

☆ Ether dips slightly ahead of Shanghai upgrade, and Montenegro taps Ripple for CBDC: CNBC Crypto World
▼ + stars: | 2023-04-12 | by ( Jordan Smith | Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther dips slightly ahead of Shanghai upgrade, and Montenegro taps Ripple for CBDC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Diogo Monica, co-founder and president of Anchorage Digital, explains what Ethereum's Shanghai hard fork means for institutions.

Bitcoin peaked at $30,438 in Asian trade and was last up 1.4% at $30,070. It has gained nearly 6% since the start of the month, after rising 23% in March. This brings digital asset flows back into positive territory for the year, the report showed. "If (bitcoin) can survive the week over $30,000, we are going higher." While Shapella is not likely to directly drive sell pressure on ether, there could be heightened volatility around the event, Bank of America strategist Alkesh Shah said.

☆ Bitcoin pushes past $30,000 as investors eye end of rate rises
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 11 (Reuters) - Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last 2% higher at $30,262. It has gained about 6% since the start of the month, after rising 23% in March. "Bets for a sooner Fed pivot on rate hikes have been dramatically strengthened following the bank turmoil in early March." Reporting by Rae Wee; Editing by Vidya Ranganathan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ European markets expected to open higher after shaking off last week's pessimism
▼ + stars: | 2023-04-11 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Bitcoin climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices. The largest cryptocurrency by market cap rose 7% to $30,193.25 for the first time since June, according to Coin Metrics. The U.S. consumer price index and producer price index due Wednesday and Thursday, respectively – will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign. Meanwhile, ether has been climbing ahead of its planned "Shanghai" tech upgrade, which is expected to bring a wave of negative sell pressure on the market as previously locked funds on Ethereum are released over the next few weeks. It advanced more than 3.5% to $1,925.11 for the first time since August as investors ahead of the upgrade, scheduled for Wednesday.

☆ Bitcoin tops $30,000 for the first time since June ahead of key inflation data; ether nears $2,000
▼ + stars: | 2023-04-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The largest cryptocurrency by market cap rose 7% to $30,193.25 for the first time since June, according to Coin Metrics. Ether advanced more than 3.5% to $1,925.11 for the first time since August as investors awaited the Ethereum network's latest tech upgrade, scheduled for Wednesday. Bitcoin climbed on Monday evening, topping the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices. Price moves for the two crypto assets have historically tracked relatively in line on a percentage basis, but the top two crypto assets "decoupled" in March, thanks to a "flight to quality" in bitcoin following bank closures. The upcoming inflation data will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.

REUTERS/Dado Ruvic/File PhotoApril 11 (Reuters) - Investors are finally set to gain access to more than $33 billion of ether this week under a planned revamp of the blockchain. A new software upgrade to the Ethereum blockchain, dubbed Shapella, will let market players redeem their "staked ether" - coins they have deposited and locked up on the network over the past three years in return for interest. About 15% of all ether is staked, totaling $33.73 billion in market value, according to data from Dune Analytics. "It seems unlikely, therefore, that much of the staked ether will be sold," Rangar added. Following the upgrade, staked ether will no longer be locked up on the blockchain, so investors may be more willing to stake coins.

☆ Here's what's in store for Ethereum's Shanghai upgrade
▼ + stars: | 2023-04-10 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what's in store for Ethereum's Shanghai upgradeCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Crypto World explores what can be expected from Ethereum's next big upgrade, the Shanghai update.

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