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According to the Financial Times, diplomats say Russia has benefited from rising oil prices, a suspension of US sanctions, and the rapid depletion of US ammunition needed by Kyiv.According to the Financial Times, four EU diplomats involved in the Ukraine talks said the Middle East conflict has diverted Washingtons attention from a peace agreement.On the 14th local time, Argentinas Ministry of Energy announced an increase in the countrys withholding tax rate on oil exports. According to the Ministry, the withholding tax rate on conventional oil exports from Chubut, Santa Cruz, Mendoza, and Neuquén provinces will rise from 3.36% to 8%.According to Irans Tasnim News Agency, 20 people have been arrested in northwestern Iran for providing information on military locations to Israel.March 15th - According to NHK, following Trumps expression of hope that Japan would join the US in maintaining the "openness and security" of the Strait of Hormuz, a senior official stated that any decision to send Japanese warships to the Middle East for escort missions would face a "very high hurdle." Liberal Democratic Party policy research chief Takayuki Kobayashi, responding to Trumps call to send warships to the Middle East, said that while the law does not completely rule out this possibility, given the ongoing conflict, it is an issue that requires careful judgment. Japans economy is heavily reliant on oil imports from the Middle East. However, Japan has yet to make a clear statement on the war with Iran. When asked about this in parliament last week, Sanae Takaichi stated that there are currently no plans to send minesweepers to help clear mines around the Strait, at least until the end of the US-Israel-Iran war. Kobayashi stated on a Sunday program that, given Trumps tendency to change his tune, Takaichi should use her personal relationship with Trump to ascertain his true intentions.

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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