EUR/USD 1.16951
-0.213%
Gold 4561.76
-2.562%
Oil 97.996
3.240%
USD/JPY 159.694
0.174%
GBP/USD 1.34934
-0.293%
GBP/JPY 215.486
-0.117%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 28th, David Oxley, chief commodities economist at Capital Economics, stated that the UAEs exit from OPEC could pave the way for a significant increase in production once shipping through the Strait of Hormuz resumes. He noted, "So far, the UAEs desire to increase production has been appeased because other OPEC members have turned a blind eye to its overproduction and have also raised their quota levels." In a more stable environment, the UAEs daily production could increase by approximately 1 million barrels, bringing total production to around 4.5 million barrels. Oxley added that due to its more diversified economy, the UAE is also in a relatively advantageous position to withstand falling oil prices compared to some of its Gulf counterparts.HFI Institute: According to tanker tracking data, 20 very large crude carriers (VLCCs) plus onshore storage capacity equivalent to 50 million barrels, based on an export volume of 1.7 million barrels per day, are almost enough to sustain Iran for 53 days.On April 28th, Neil Crosby, Senior Vice President of Petroleum Analysis at Sparta Commodities, stated that the UAEs exit from OPEC with the Strait of Hormuz closed will have a negligible short-term impact on the oil market. He noted that the UAEs exit from OPEC "was bound to happen sooner or later." Once the strait reopens, the UAEs sustainable daily production could reach 4.5 million to 4.8 million barrels—higher than its OPEC quota of 3.4 million barrels—but given the 1 billion barrels of oil lost globally since the start of the Middle East wars, "it wont cause too much disruption for some time."According to a report by Irans Tasnim News Agency, citing HFI research, Iran can continue oil production and storage for up to two months.April 28th - According to the Daily Mail, research shows that Donald Trump and King Charles of the United Kingdom share a common ancestor: the 3rd Earl of Lennox, a great-grandson of King James II of Scotland. This means that Trump and King Charles are the fifteenth generation of relatives. In response to this report, Trump posted on his social media on Tuesday: "Wow, this is fantastic. Ive always wanted to live in Buckingham Palace!!! Ill be discussing this with the King and Queen in a few minutes!!!"

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

Skylar Shaw

Feb 20, 2023 15:57

微信截图_20230220101731.png


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.

Suggestion