The Ethereum update, called Shanghai, will be released next week. We have gathered all known information about the event and how it may affect the value of the asset. It is also reported that since the collapse of FTX, users have been using CEX less due to its lower reliability. We found for you a list of the most popular DEXs.
Next week’s main crypto event is the Ethereum update called Shangai. Once again in FAQ format, let’s refresh what it is and how it can affect the price of $ETH.
As of December 2020, users could stake ETH but not withdraw it. The Shangai update will allow all stakers to withdraw ETH blocked since December 2020, as well as rewards accumulated during that time.
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Since the launch of Beacon Chain, some 520,000 validators have staked over 16.5 million ETH (~$25 billion).
The biggest player in the market is LidoFinance. It accounts for almost 5 million ETH and 29.2% of the market. The leading exchanges in the staking market are Coinbase, Kraken, and Binance, which account for over 4 million ETH and about 26% of the market.
Staking fees are inversely related to the number of validators. This means that if the number of validators decreases (validators withdraw their ETH), the rewards will increase and attract new validators.
While everyone is waiting for sales, on the contrary, many are waiting for the Shangai update to start staking ETH, because:
So there is also buying pressure, which is likely to be greater than selling pressure. At the current price of ETH, this effect is already being tracked.
As a short conclusion, we can state that the fear of ETH price collapse after the upgrade is greatly overstated, although short-term volatility during the first days after the upgrade is likely.
As you can see from the statistics below, it’s obvious that cryptocurrency was not created to pay taxes. Looking at the tiny numbers of those willing to pay the tax, the increasing pressure from regulators is partly understandable. Note that the most law-abiding were citizens of Finland and Australia. Of the major countries, the most asocial elements ignoring the state institutions reside in India, Brazil, and Turkey.
Since the collapse of FTX and a series of legal attacks on Binance and other exchanges, it has become clear that CEX is not the most reliable way to keep money, and the public’s attention has gradually shifted to the top DEX exchanges. In 2023, DEX has begun to boom; here are their current Top 5:
We pay special attention to Trader Joe’s, which for the first time rose in the top 5 DEX and, by the volume of trades, is considered the fastest-growing DEX in the world.
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