- After the Upgrade: Exploring the Post-Shapella Dynamics
- NFT Event Ticket: the killer app for NFTs?
- Congestion woes on Bitcoin
- U.K. inflation report rattles investors
- Market lull impacts DEX volume
- Is Morpho poised to shape the future of decentralized lending?
- Lit Protocol’s decentralized access control infrastructure
- In a surprising move at the beginning of the month, OPEC+ decided to decrease oil production, a decision that may have inflationary implications. This could lead to the Federal Reserve raising interest rates to control inflation. However, the imminent Shapella Upgrade in April cast a shadow over the majority of macroeconomic news.
- Following the Shapella Upgrade, Ethereum's price continued to rise, reaching an 11-month high of over $2,100, fueled by renewed investor enthusiasm, despite initial expectations of a "sell-the-news" response. Bitcoin also surpassed a year-high of $30,000. Unfortunately, the rally was short-lived, as both BTC and ETH experienced a significant price drop, wiping out all the gains from the upgrade.
- Additionally, investor sentiment was dampened by a sobering U.K. inflation report and a large sell order on Binance, causing Ether to drop below $1,850 and BTC to fall below $28,000.
- In other global news, First Republic Bank's announcement of losing $100 billion in deposits reignited concerns about the stability of the traditional banking sector, leading to a brief rally in digital assets akin to that seen last month.
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