Goldilocks "Reports, Ethereum and more" Monday 4-10-2023
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CPI, PPI, and Bank Earnings reports come out this week.
These reports will give us a good understanding of where we are.
The Futures Market are indicating session lows.
© Goldilocks
The Shanghai Exchange upgrade utilizing Ethereum to move their monetary exchange system in the east happens this Wednesday.
It is a major undertaking that will enable many of the Eastern half of our world's economy to operate in the digital-asset based trading system.
Here is what will be happening: "The highly anticipated Shanghai upgrade, scheduled for April 12, is set to bring significant changes to Ethereum’ (https://thecurrencyanalytics.com/what-is-ethereum)s network.
This final step in Ethereum’s transition from a proof of work (PoW) consensus mechanism to a more eco-friendly proof of stake (PoS) consensus mechanism will unlock ETH coins that users staked last year to secure the network during the transition. The upgrade could introduce some price volatility for Ethereum as the market reacts to these developments."
This upgrade will lower the number of Ethereum coins and drive it's price up. The proof of stake protocol is a consensus mechanism used to verify new cryptocurrency transactions.
This will tighten security and enable proof of funds on both sides of a trade through the use of Ethereum's smart contract mechanisms.
The Shanghai Stock Exchange provides products of stocks, bonds, funds and derivatives. This will lock in cross-border International trading capabilities from the East and the West in the new digital asset-based trading system.
The use of the Chinese Yuan will go a long way in leveling off the playing field among currencies to settle trades.
We have come a long way, and this upgrade moves us closer to a holistic picture of our new global economy.
© Goldilocks
https://thecurrencyanalytics.com/altcoins/april-crypto-forecast-ethereums-shanghai-upgrade-and-market-volatility-amid-interest-rate-uncertainty-43139.php
https://www.analyticsinsight.net/crypto-news-update-ethereum-eth-shows-strength-ahead-of-the-crucial-shanghai-upgrade-dogecoin-doge-gets-renewed-confidence-after-elon-changed-twitter-logo-renq-finance-renq-scoots-past-5-2-m/
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