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November 15th - Stephen Innes, Managing Partner of SPI Asset Management, stated that with the US government reopening, a backlog of important data will be released, including employment and inflation indicators, which the market expects to be weak. Weaker US data could depress US Treasury yields, reigniting market expectations for an interest rate cut in early 2026 and providing room for a rebound in gold prices, which have been squeezed by rising real yields. The recent pullback in gold prices appears more like position adjustments than a trend reversal. The outlook for gold remains positive, and investors will closely watch US real yields, a weaker dollar, and upcoming data. If the data points to a cooling US economy, gold could rebound next week.November 15th - According to the Financial Times, Apple (AAPL.O) is accelerating its succession planning, preparing for Tim Cook to potentially step down as CEO as early as next year. Multiple sources familiar with internal discussions revealed that Apples board and senior management have recently expedited preparations to welcome Cooks departure. John Ternus, Apples senior vice president of hardware engineering, is widely considered Cooks most likely successor, but a final decision has not yet been made. Sources close to Apple indicate that this long-awaited transition is not due to the companys current performance, as Apples iPhone sales season at the end of this year is expected to be very strong. If a successor is announced early next year, the new leadership team will have time to establish themselves before Apples key annual events, including the Worldwide Developers Conference (WWDC) in June and the iPhone launch event in September.According to the Financial Times, Apple (AAPL.O) is preparing for Tim Cook to step down as CEO as early as next year, with John Ternus, the companys senior vice president of hardware engineering, widely considered the most likely successor.According to the Financial Times, Apple (AAPL.O) is stepping up its planning for a successor to CEO Tim Cook.On November 15th, the European Parliament adopted its position paper on amendments to the European Climate Law on the 13th, supporting the addition of a legally binding 2040 mid-term climate target to the existing EU climate law. The position paper requires the EU to reduce net greenhouse gas emissions by 90% from 1990 levels by 2040, while also supporting the European Commissions proposal to introduce flexibility in achieving the target. The European Parliament stated its support for member states to offset emissions reductions of up to 5% of their 1990 emissions by purchasing international carbon credits from other partner countries starting in 2036. The European Parliament also advocated for incorporating permanent carbon removal into the EU Emissions Trading System, in addition to existing reduction methods, to offset some emissions that are difficult to reduce.

Cryptoverse: After Merge, ether heads for a $20 billion Shanghai splurge

Skylar Shaw

Sep 21, 2022 14:36

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On September 15, the massive update to the Ethereum blockchain finally went live, smoothly transitioning it to a "proof of stake" (PoS) method that uses less energy.


Even though ether had risen over 85% from its June lows in anticipation of the event, it has subsequently fallen 19% as a result of investor anxiety about inflation and central bank policies, along with bitcoin and other risky assets.


Despite this, a lot of industry participants are upbeat about the long term prospects of Ethereum and its native coin.


"In the past, we have discussed with central banks and sovereign wealth funds how to expand their allocations of digital assets... However, owing to energy-related issues, direct investment was rejected, according to Markus Thielen, chief investment officer of asset management IDEG Limited.


"This final pillar of worry is obviously resolved with Ethereum shifting to PoS," the author writes.


Some cryptocurrency investors are now focusing on the upcoming occasion that may affect prices.


The "Shanghai" update, which aims to lower Ethereum's high transaction fees, is anticipated by market players to arrive in around six months.


It would enable validators to withdraw their staked currencies, keep them, or sell them once they have put ether tokens on the blockchain in return for a yield.


There is a lot at risk since, according to data source Glassnode, there are presently over $20 billion in locked-up ether deposits.


According to CoinMarketCap statistics, the staked ether cryptocurrency, which is seen as a gamble on Ethereum's long-term success since it cannot be refunded until Shanghai takes place, is trading at almost parity with ether at 0.989 ether, suggesting trust in future improvements.


In June, the currency had fallen as low as $0.92.

Slash and spend

Beyond Shanghai, Ethereum will get a plethora of additional improvements, which co-founder Vitalik Buterin has dubbed "the surge," "verge," "purge," and "splurge."


Future improvements are anticipated to concentrate mostly on increasing the blockchain's capacity to handle more transactions.


Alex Thorn, head of firmwide research at blockchain-focused bank Galaxy Digital, stated, "Because the Merge was postponed for many years, investors, traders, and end-users have a great lot of concern regarding when Ethereum can really grow."


"Ethereum's future has to, and will, expand to hundreds of millions of transactions per day," said Paul Brody, global blockchain head at EY.

Killers of Ethereum

The main objective of The Merge was to lower Ethereum's energy consumption in light of criticism of cryptocurrencies' significant carbon impact. According to the creators, the blockchain's energy usage was reduced by an estimated 99.95%, which may entice large institutional investors who were previously restrained by environmental, social, and governance (ESG) considerations.


According to Adam Struck, CEO of venture capital company Struck Crypto, the Merge and upcoming enhancements significantly lessen the financial attraction of so-called "Ethereum killer" blockchains like Solana and Polkadot.


Institutional investors aren't investing just yet, however, since a terrifying economic climate is choking off demand for risk.


However, in the long run, switching to PoS is anticipated to reduce the pace of ether token issuance by up to 90%, which should result in higher pricing.


Investors may also find the 4.1% yearly payouts for staking ether tokens to validate transactions alluring.


Although the proof-of-stake algorithm enables these rich returns, many cryptocurrency purists point out that it takes Ethereum away from a completely decentralized model since the largest validators may have more control over the blockchain.


But for now, it may be best for the Ethereum community to savor the Merge moment.


In the days to come, there may be volatility, according to experts at Kaiko Research. However, the neighborhood may finally enjoy a well-deserved victory lap.

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