In crypto despatch this week, the Ethereum network’s long awaited Shapella upgrade took effect, unlocking staked ether. In the broader monetary world, economist Harry Dent has predicted a massive crash to hit by mid-June, bank lending plummeted by a record $105 billion in two weeks, and the USD’s capability faculty to maintain its value even in the short-term has once again been called into question. All this and more unprejudiced below, in the Bitcoin.com News Week in Review.
Ethereum’s Shapella Upgrade Unlocks Staked Ether, Over 860K ETH Hovering for Withdrawal, Price Surges 6%
On Wednesday, April 12, 2023, at 6:30 p.m. Eastern Time, Ethereum’s Shapella upgrade was successfully implemented, empowering validators to withdraw staked ether. Data reveals that more than 860,000 ether is poised for unlocking, and 77,000 ether is expected to be quiet on Thursday. Ether’s price has experienced a surge, rising 6% against the U.S. dollar within the past 24 hours.
Know More
Economist Harry Dent Expects Biggest Crash in Our Lifetime to Hit Between Now and Mid-June
Harry Dent, economist and originator of several best-selling books, has warned that the biggest crash in our lifetime is “going to hit between now and about mid-June.” He stressed: “People are going to know this is not a big correction — it is a major crash, one that you have not seen … in your lifetime.”
Deliver assign to More
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Advises ‘Trend Will Accelerate’
The banking industry in the United States is still struggling after the collapse of three bigger banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the portliest decline on record. Additionally, Elon Musk, a Tesla executive and owner of Twitter, recently commented on trillions of dollars being shrinking from banks into money market funds, and he insists that the “trend will accelerate.”
Read Assorted
US Dollar Could Lose Most of Its Value in 5 Years, Investment Manager Warns
Investment manager Larry Lepard has alerted that the U.S. dollar could lose most of its value within five to 10 years. Following the onset of the Russia-Ukraine war, “the U.S. did something which I grasped to be very stupid, which is it seized $600 billion of Russian currency reserves, and that sent the message to every other mother country in the world that ‘Hey if the U.S. doesn’t like what you’re doing, they can grab your money,’” the executive give an account ofed.
Read More
What are you thoughts on this week’s Bitcoin.com News Week in Commentary? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Non-privates
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or authorization of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the founder is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, okays or services mentioned in this article.
Read disclaimer