This Week in Crypto
April 7, 2023
While many parts of the world are getting ready for the extended weekend over Easter, the crypto market has continued its full swing throughout the week. In this week’s episode of This Week in Crypto, we are taking a look at the following headlines:
- Ethereum prepares for Shapella upgrade
- Binance is rumored to have rejected Huobi’s deal
- Microstrategy purchases an additional 1045 BTC
- MXC zkEVM testnet anticipates public access
- DHX prepares for an upgrade to meet ISO demand
Ethereum Prepares for Shapella Upgrade
Ethereum’s highly-anticipated Shapella upgrade is imminent. While the upgrade aims to improve the network’s scalability and security, it is widely viewed by speculators as the point where the previously staked ETH during Ethereum’s shift from PoW to PoS will be unlocked and liquid again. Some analysts predict a bullish trend due to the upgrade’s anticipated positive impact on network performance and adoption, while others remain cautious about potential short-term volatility and unforeseen challenges.
Crypto traders should pay close attention to the Shapella upgrade as it could significantly influence ETH prices and market dynamics, offering both potential investment opportunities and risks associated with the update’s implementation.
Binance Rumored to Have Rejected Justin Sun’s Huobi Deal
The ongoing rumor states that Binance, the world’s largest cryptocurrency exchange, has rejected an offer from Justin Sun, the founder of TRON, to purchase his stake in Huobi. According to an anonymous source, the deal was turned down due to concerns over potential regulatory scrutiny and the desire to maintain a healthy competitive environment in the cryptocurrency market. Meanwhile, the price of Huobi Token (HT) and BNB (BNB) has recorded only a moderate loss in price.
Crypto traders should be aware of this development as it highlights the importance of regulatory compliance in the industry and the potential influence of strategic decisions on the competitive landscape of cryptocurrency exchanges.
Microstrategy Purchases an Additional 1045 Bitcoin
MicroStrategy, a prominent business intelligence firm, has acquired an additional 1,045 Bitcoin for $23.9 million, further increasing their substantial investment in the cryptocurrency. This latest purchase brings the company’s total Bitcoin holdings to nearly 140,000 BTC, showcasing its unwavering commitment to Bitcoin as a strategic asset.
Crypto traders should closely monitor this news, as MicroStrategy’s continued Bitcoin accumulation not only reflects sustained institutional interest but could also impact market sentiment and foster further institutional adoption.
MXC zkEVM Testnet Anticipates Public Access
The highly anticipated MXC zkEVM (zero-knowledge Ethereum Virtual Machine) is expected to be open to the public soon. The network, Wannsee, — named after a popular swimming lake in Berlin — has seen successful internal testing and has finished its preparation to welcome public testers, according to the CEO, Xin Hu. Along with the launch of the Wannsee testnet, MXC will soon showcase swap functions that can support not only MXC but also ISO assets built on top of Wannsee.
We recommend that the most eager members of the MXC community pay close attention to our official social media channels and those of the official representatives to not miss out on being the first ones to experience this major milestone.
DHX Prepares for Upgrade to Meet ISO Demand
According to the internal sources within DataHighway (DHX), the core contributors are preparing for an upgrade on DHX to meet the newly-raised demand from ISO: on-chain data certification and storage. As the Polkadot and Kusama ecosystems currently do not support native solutions for on-chain storage similar to IPFS and Filecoin, the challenge is expected to result in an innovative solution driven by DHX. Those mining or staking DHX should pay particular attention, as this may be one of the defining moments in DHX’s development history.
