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August 12th - According to a senior economic advisor and a former government official, US President Trump is seeking new policy promises to demonstrate to voters before the midterm elections, including potential calls for Congress to cut capital gains taxes and establish exemptions for certain home sales. White House National Economic Council Director Hassett said on Tuesday that Trump wants to introduce more incentives to garner voter support for the Republican Party in the November election. Kudlow, who served as director of the National Economic Council during Trumps first term and remains a Trump ally, said he recently discussed a "capital gains tax inflation indexation" proposal with Trump, adjusting for inflation before taxing capital gains. Kudlow also suggested exempting home sales of $2 million or less from capital gains tax, stating that "the boss (Trump) is very interested in this."On August 12, Iranian Oil Minister Mohsin Paknead stated on the 11th that Iran is repairing its war-damaged natural gas production facilities, and its daily production capacity is expected to recover to 95 million cubic meters by the end of September. Paknead said that the reconstruction of four attacked and damaged natural gas processing facilities is progressing rapidly, with contractors already on the ground, and is expected to be completed ahead of schedule, fully restoring pre-war production capacity. Previously, it was reported that since the US-Israel military action against Iran, Irans daily natural gas production has decreased by approximately 230 million cubic meters.Amazon Web Services (AWS): OpenAI’s Daybreak Red and Daybreak Blue are now available to eligible customers on Amazon Bedrock.August 12 - The Houthi rebels in Yemen stated on the 11th that they are willing to maintain dialogue with Saudi Arabia, but also said that they will continue to launch attacks on Saudi-related ships and Saudi-backed military targets unless their demands are met.Coreweave (CRWV.O) CFO: Third-quarter revenue is expected to be between $3.45 billion and $3.6 billion, with capital expenditures between $11.5 billion and $13.5 billion.

ETH and a Look at $1,800 Shanghai Hard Fork Update Dependent

Skylar Shaw

Feb 20, 2023 15:57

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On Saturday, Ethereum (ETH) fell by 0.12%. On Friday, ETH gained 3.42% and closed the day at $1,692. ETH returned to $1,700 for a third session in a row.


After spending the morning in a narrow range, ETH increased to a late-afternoon high of $1,714 before going back down. The price of ETH dropped to a late low of $1,680 after failing to reach the First Major Resistance Level (R1) at $1,734. The First Significant Support Level (S1) at $1,642 was avoided, and ETH returned to $1,694 before slipping back into the negative territory.


Bitcoin (BTC) increased by 0.21% on Saturday. BTC finished the day at $24,633, building on a 4.48% increase from Friday. Bitcoin missed the $25,000 level for the first time in three sessions despite the positive day.


Following a day of range-bound trading, Bitcoin dropped to a low of $24,450 in the early morning. BTC increased to a high of $24,878 in the late afternoon, avoiding the First Significant Support Level (S1) at $23,614 in the process. Bitcoin slipped down to close the day at $24,633 after failing to surpass the First Major Resistance Level (R1) at $25,287.

Shanghai Hard Fork Update: ETH is no longer active Without heels

There were no development updates from Shapella testnet testing on Saturday. The Shanghai hard fork is anticipated to take place in March, therefore on Saturday, the absence of news was welcome. Yet, ETH and BTC may have been held back from another high session by uncertainties over the US crypto industry regulatory environment and Fed Fear.


While US lawmakers' investigation of SEC regulatory action resulted in mid-week support, there is still anti-crypto sentiment on Capitol Hill in the aftermath of FTX's bankruptcy.


Last week, Coinbase CEO Brian Armstrong urged for more clarity in cryptocurrency legislation, stating that the absence of such regulations and a hostile regulatory climate were contributing to America's long-term decline as a financial center. To adopt unambiguous law, Congress has to move quickly.


 Everyone can use cryptocurrency, and others are taking the lead. The UK, the EU, and now Hong Kong.


The CEO of Coinbase said that all inhabitants of Hong Kong would be able to trade cryptocurrencies starting on June 1.


Although progress toward the Shanghai hard fork is encouraging for ETH, the impact of the hard fork on ETH will probably rely on the state of the cryptocurrency market. Investor attitude and staking intents would be affected by the SEC's enforcement of regulation being tightened up and by anti-crypto sentiment on Capitol Hill.


The SEC's action against Kraken and other cryptocurrency staking firms caused a significant decline in daily staking inflows for Ethereum. After the decline on February 13, stake inflows have been inconsistent.


CryptoQuant reports that daily ETH staking inflows reached a low of 4,896 ETH on February 23 before increasing. Inflows peaked at 33,280 EHT on February 14 before dropping to 16,640 EHT on Friday and 11,520 EHT on Saturday.

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