How will Ethereum’s Shanghai upgrade affect the crypto market as Bitcoin approaches a bull market and big eyes are ready to launch NFTs?
As the economic landscape remains uncertain, cryptocurrency enthusiasts expect a bull market in 2023. This belief is based on the notion that history repeats itself, with each bearish year being followed by a bullish one. Despite the challenges of collapsing banks, high inflation and the FED’s interest rate hike, analysts remain optimistic about the future of cryptocurrency. Ethereum (ETH), Bitcoin (BTC) and Big Eyes Coin (BIG) are some of the most promising cryptocurrencies to watch.
Ethereum launches Shapella in April
Ethereum’s Shanghai Upgrade, also known as Shapella, is a hard fork set to launch on April 12. This upgrade is expected to be a game changer for Ethereum as it will allow holders to withdraw their holdings for the first time ever. This means that holders will have full access to their holdings, which is a significant development for the blockchain. With over 500,000 validators on the Ethereum network, the development team will prioritize sharding, EVM and EOF. However, the most important proposal is the unstaking feature, which will be implemented in time. EIP-4844, which introduces proto-danksharding and sets up the sharding upgrade for Ethereum, is not expected to be included in the Shanghai upgrade and will be launched in 2024. This database partitioning technique will increase scalability and allow more transactions per second.
Bitcoin is approaching the bull market
Bitcoin has also seen an increase in value, with a 17% increase in the past two weeks. It briefly passed $29,000 before retreating to $28,500. Computer tracking of whale wallets showed a decline in their holdings, as more than 320,000 Bitcoins were spent in the past week. Short-term owners are making the most, and analysts believe this is a sign of a bull market. At the time of writing, Bitcoin is trading at $28,621 with a daily gain of 3.7%. The Bitcoin Fear and Greed Index has also retreated into greed territory, indicating a positive outlook for the cryptocurrency. The next major resistance is $30,000, and Bitcoin may reach this milestone soon, despite the possibility of a market correction.
Big eyes launch NFTs
Big Eyes Coin (BIG), a cat-themed meme coin, has raised over $32.67 million during its pre-sale and is in its final phase before the big launch. The coin’s community is at the forefront of development, with promo codes, bonuses and loot boxes designed to make the journey fun and profitable for both the community and the coin. Big Eyes Coin’s NFT launch is set for March 31st and will feature custom and unique cards as rewards, along with STORE tokens.
Each loot box will grant STORE tokens and users will have the option to mint their cards as NFTs if they haven’t already. Each card can only be minted once per wallet address, so collectors should make sure they collect all their loot boxes. Big Eyes Coin’s impressive growth trajectory in recent months makes it one of the most promising meme coins out there, with the potential to become one of the biggest in the market.
In conclusion, while the economic landscape remains uncertain, cryptocurrency enthusiasts remain optimistic about a potential bull market in 2023. Ethereum’s Shanghai upgrade, Bitcoin’s price rise, and Big Eyes Coin’s community-focused approach make them some of the most promising cryptocurrencies to watch . The upcoming developments in the cryptocurrency market offer exciting opportunities for investors and traders alike, as long as they remain informed and vigilant.
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