Daily Crypto News

First Mover Asia: Bitcoin Tops $23.7K in Wednesday Comeback

Big tokens, especially bitcoin, and any ether are going to do well. We’re going to see a faster recovery in the crypto markets than we will see in the traditional finance market. ETH is now deflationary while the chain is seeing hugely increased activity on top of Ethereum developer engagement, faster improvements to the Ethereum network itself, and faster settlement associated with all of the activities. Despite the unlocking of staked ETH coming in with the Shanghai release, a lot of people would be surprised how a large portion of the staking will remain staked. It might move across to liquid staking derivatives that have been a burgeoning market across the Ethereum DeFi ecosystem. ETH to $10,000 by the end of this year retains the deflationary momentum: less supply, more activity, and faster circulation require better value and more distribution to drive digital exchange and digital trade across the Ethereum Blockchain layer 1 and layer 2’s.

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