[Weekly Readings] Embrace Shanghai Upgrade, Ethereum Has A Bright Future

HTX NewsPublicado em 2023-04-09Última atualização em 2023-04-09

Resumo

Review the hot articles in the past week and help you quickly understand the crypto market.

Ethereum Shanghai Upgrade

Ethereum Shanghai hard fork: ETH price set for more gains versus Bitcoin in April

Ethereum price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away.

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Market Interpretation

Here’s Why The Fair Price Of Bitcoin Currently Is $42,000: Renowned Analyst

The founder of Capriole Investments, Charles Edwards, has shared in his latest tweet an assessment that Bitcoin is still significantly undervalued at its current price. The creator of the Hash...

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Ethereum Price Jumps 5% and ETH Could Gather Momentum Above $2,000

Ethereum price jumped over 5% and surpassed $1,850 against the US Dollar. ETH might extend its rally if it clears the $1,920 and $2,000 resistance levels.

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$30K BTC price stays valid as ‘boring’ Bitcoin heads into US jobs data

Ethereum price jumped over 5% and surpassed $1,850 against the US Dollar. ETH might extend its rally if it clears the $1,920 and $2,000 resistance levels.

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New Rally Event

How ARB Shifts the Future of Airdrops

The Arbitrum $ARB launch was a big moment for crypto and Ethereum, but it was also a huge milestone for airdrops. The question now is how, in the wake of ARB, projects shift their thinking around token incentives for early adopters.

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Leituras Relacionadas

Fidelity Representative Comments on the Latest Sensational Move by the U.S. Treasury Department Regarding Bitcoin's Future

A representative from Fidelity Investments has commented on recent U.S. Treasury actions and their potential impact on Bitcoin. Jurrien Timmer, Global Macro Director at Fidelity, stated that the U.S. Treasury's increased buyback of long-term bonds coupled with a focus on issuing short-term Treasury bills is putting pressure on the U.S. dollar while simultaneously supporting Bitcoin and gold. Timmer noted that the dollar weakened last week following these Treasury maneuvers, and the concurrent sharp rise in gold and Bitcoin prices reflects market expectations of a potential shift toward "fiscal dominance" and a possible erosion of Federal Reserve independence. He suggested that to successfully maintain low long-term bond yields, the Treasury's bond buyback program might need significant expansion. This scenario could force the Fed to intervene with a form of "Operation Twist" policy, potentially increasing currency debasement risk. Timmer concluded that a combination of stimulative fiscal policy and accommodative monetary policy creates a particularly negative backdrop for the dollar but is clearly favorable for gold, and Bitcoin could also benefit.

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Fidelity Representative Comments on the Latest Sensational Move by the U.S. Treasury Department Regarding Bitcoin's Future

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OpenAI Approaches Creation of Human-Level AI: What's Holding Its Release Back

OpenAI is nearing the development of Artificial General Intelligence (AGI), with CEO Sam Altman stating the company expects to have an internal system they would call AGI by the end of 2026. Chief scientist for research Mark Chen estimates they are "80% of the way" there. The core of this effort is their next-generation model family, Astra, which has demonstrated advanced capabilities such as collaborative problem-solving and autonomously conducting research experiments at a speed far exceeding human capacity. However, this rapid progress has prompted significant safety concerns. Internal evaluations found Astra has achieved a critical level of "cyber capabilities," leading OpenAI to pause certain development work in early August 2026. Safety measures include a two-week pause on reinforcement learning training, tightened infrastructure isolation, and enhanced monitoring. Altman acknowledged the need for extra time to ensure a safe public release. The situation highlights the dual-track race OpenAI is running: advancing swiftly toward AGI while grappling with the security risks posed by the autonomous, powerful systems it is creating. The company's future steps depend on balancing this technological acceleration with the imperative of robust safety protocols.

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OpenAI Approaches Creation of Human-Level AI: What's Holding Its Release Back

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Major whales are very active: they are buying and selling large altcoins today!

Large crypto whales are highly active, making significant moves in major altcoins. According to blockchain and market data, three major independent investors have recently taken multi-million dollar positions in $ETH, $SOL, $HYPE, and CXMT. One major investor, linked to the address "0xedcd," opened a large long position of 20,000 ETH at approximately $1,936 earlier in the rally. This position grew to around $50 million, with unrealized profits reported over $11 million. Following this success, the same investor opened a new leveraged long position for 100,000 SOL at an entry price of about $104.5, valued at $10.45 million. A second major whale attracted attention with aggressive buys of Hyperliquid's native token, $HYPE, with potential links to a16z. This entity previously purchased $24 million worth of HYPE at ~$68.7 in June. In the past 24 hours, $36 million USDC was deposited to Hyperliquid from 12 addresses associated with the investor, with about $24 million used to buy 282,090 HYPE at an average price of ~$81.5. Large investors now hold 4.67 million HYPE tokens worth ~$381 million, with an average cost of ~$65.6 and reported unrealized profits of ~$74.4 million.

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Major whales are very active: they are buying and selling large altcoins today!

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Ripple Company Makes a Huge Leap in the US Stock Market!

Ripple has significantly expanded its presence in the U.S. financial market by launching a Delta One service within its institutional broker platform, Ripple Prime. This new offering enables institutional investors, such as hedge funds and asset managers, to trade Total Return Swaps (TRS) on U.S.-listed stocks, equity indices, and digital assets. The move marks Ripple Prime's expansion beyond digital assets into traditional securities. The service aims to meet diverse investment and risk management needs by allowing clients to trade multiple asset classes through a single counterparty with cross-collateralization, potentially improving capital efficiency for large-scale institutional trading strategies.

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Ripple Company Makes a Huge Leap in the US Stock Market!

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Authorities of an American city ban mining

The authorities of Whiteville, a city in the United States, have implemented a ban on cryptocurrency mining. This moratorium is set to last for one year, until August 25, 2027, or until the city council can amend current zoning laws, which currently lack specific regulations for data centers and mining farms. Mayor Terry Mann stated that during this period, the city plans to study the impact of mining on local resources and public health. Officials will assess the water required for equipment cooling, electricity consumption levels, and the strain on city infrastructure. Concerns cited by city staff include the potential for uncontrolled mining to lead to high greenhouse gas emissions, pollution from diesel generators, excessive electronic waste, and significant noise pollution that could harm residents' health. While there are currently no active proposals for data center construction in Whiteville, the ban is a preemptive measure. City authorities also intend to use the year to study the regulatory approaches of other municipalities in North Carolina. This development comes as a 2023 CoinShares report indicated that Bitcoin mining in the U.S. is becoming less profitable due to rising electricity costs, the reduced block reward of 3.125 BTC, and increased network difficulty.

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Authorities of an American city ban mining

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