Rocket Pool to Complete Atlas Upgrade, Hundred Finance Tries to Recover $7.4 Million
Apr 17, 2023
Market Update Traditional indices are trading lower today, with the $SPX (-0.20%) and $NDQ (-0.62%) declining as market focus is shifting to the upcoming earnings season. Crypto markets are underperforming today as $BTC (-3.14%) and $ETH (-2.20%) are cooling off after rallying over the last week. As mentioned in last week’s Crypto Weekly, supply overhang projections following the Ethereum Shapella upgrade were too pessimistic. As of this morning, total withdrawals since the upgrade surpassed 1 million. At the same time, depositors have staked an additional 380k Eth, resulting in a net staking balance of -675k, still representing less than a 1% change in Eth’s total circulating supply. Additionally, the rally in ETHBTC following Shapella remains intact, rising 1.09% today.Source: MetrikaLiquid staking protocol Rocket Pool has been one of the best performers over the last week, as their Atlas Update is slated to be completed today. The Atlas upgrade will enable rETH holders to immediately exchange for ETH. Additionally, Atlas will mark the launch of 8-ETH Bonded Minipools. Minipools will lower the staking barriers to entry as users will be able to provide 8 Eth in contrast to the former 16 Eth requirement. This significantly reduces capital requirements for stakers and shou