Ethereum Staking Withdrawal Date Confirmed, SEC Chief to Testify in Congress

Name: FS Insight
Price range: $$$

Mar 29, 2023

BTC -2.11% ETH -2.57% FXS 1.41% LDO 1.44% XRP -5.49%

Market Update Crypto and Equities are rising, with the S&P up 1.07% while $BTC gained 3.82% over the last day. No news is good news as investors regain comfort that the financial sector has stabilized each day that passes without another crisis. Core PCE inflation is scheduled to be released this Friday. Known as the Fed’s preferred measure of inflation, it could either strengthen or weaken the market’s conviction that the Fed may be at the end of its rate hiking cycle. $ETH is underperforming Bitcoin, gaining only 1.73%. Yesterday the Ethereum Foundation released a blog stating they had set a date for the Shanghai / Capella upgrades (Shapella), which will enable withdrawals from network staking. Liquid staking projects $LDO (+12.9%) and $FXS (+19%) both moved higher as investors see the upgrade as a potential catalyst for further LSD product demand. $XRP continues to outperform among the top 10, gaining 8.3% over the last day from continued speculation of a favorable ruling in their case against the SEC. The Ethereum Foundation has confirmed staking withdrawals will be enabled with the Shapella network upgrade on April 12th. Users who staked $ETH on the network as early as December 2020 will finally be able to unstake after the long-awaited upgrade. Over 16m $ETH or ~15% o

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