The Ethereum network is gearing up for the highly anticipated Shanghai-Capella upgrade, hot on the heels of last year's "Merge," which transformed the blockchain's consensus mechanism from the energy-guzzling proof-of-work to the eco-friendlier proof-of-stake. The upcoming Shanghai fork brings five Ethereum Improvement Proposals (EIPs) to the table, with EIP-4895 being the star of the show as it unlocks staked Ether and enables withdrawals. 🌐

8,112,471 $ETH worth $34B will be unlocked & investors can begin to unstake. However, the 18 million staked ETH won't be released all at once to maintain network security and stability. Validators and stakers will face a queue and withdrawal period, which could take months. 🔒

The Shanghai upgrade is expected to increase liquidity and trading of Ether, attracting more institutional capital into the crypto economy. Additionally, the "Merge" upgrade transitioned Ethereum to a proof-of-stake consensus system and made ETH a deflationary asset through the implementation of EIP-1559, increasing its value over time.

In the short term, top Ethereum quant traders suspect that price action might just shrug or even pout bearishly due to the anticipated rise in circulating ETH supply as investors cash in their stakes. But hey, in the long haul, Ethereum's switch to proof-of-stake is bound to be a party for the network and ETH's price. 🎉

Data whispers that fears of a massive ETH sell-off post-Shanghai upgrade might be dramatic, as 60% of the staked ETH supply is currently at a loss. Plus, nearly 90% of all ETH supply is cozily self-custodied, keeping immediate sell pressure at bay.

Decentralized exchange SushiSwap has experienced a hack resulting in the loss of over $3.3 million from at least one user. 🍣 💸

A bug in Sushi's Routing Processor 2 contract impacted users who had traded on the decentralized exchange over the previous week. SushiSwap's chief developer, Jared Grey, advised users to remove rights for any contract on the protocol. A list of contracts requiring revocation was created on GitHub, and a white hat security procedure retrieved a significant amount of the damaged funds. 🙌

Over 190 Ethereum addresses and more than 2,000 Layer 2 Arbitrum addresses have approved the problematic contract. SushiSwap's governance token price fell by 0.6% following the news.

Just weeks after Do Kwon's arrest in Montenegro, the central bank is partnering with Ripple to develop a central bank digital currency (CBDC) pilot program hoping to make money go digital with style.

With Ripple's expertise for connecting various payment systems and championing blockchain utility in CBDC development, Montenegro is set to ride the digital wave. The CBDC initiative aims to boost financial inclusion, modernize monetary policy, and improve payment security, but not everyone's amused, as some worry about potential privacy violations. 👀

Let's hope they're not taking a page out of Kwon's playbook about the currencies.. 😱

Bitcoin's value has risen above $30,000 for the first time since June 2022, marking an 80% increase in value in 2023. The surge follows March's banking turbulence and increasing optimism about U.S. central bank monetary policy. 📈

In addition to its value as an asset, Bitcoin is increasingly being perceived as a reliable store of value and a "risk-off" asset. The cryptocurrency also benefits from the ongoing narrative of de-dollarization and its appeal as a safe haven for investors. Amid geopolitical instability, failing banking systems, and concerns about reserve currencies, Bitcoin is emerging as a reliable refuge and a formidable asset on the global stage.

Furthermore, there is noticeable whale outflow activity, which indicates bullish sentiment, as it often signals a decreased intention to sell. With whales seemingly taking a break from offloading their coins, it's "to the moon" for Bitcoin, at least for now. 🌕