Happy Friday Folks,We're NOT going to talk about “that song” from ETHDenver. But we will leave it right here (in case you missed it 🥴).

So, what's on today's agenda?

• Why The Dump?

• Shanghai Pushed Again

• Getting Sweaty in the USA

Will There Be a Silver Lining to This Bitcoin Slide?

During the Asian market hours early on Friday Morning (UTC), Bitcoin dumped just over 5% in an hour, with the rest of the market following suit.

Why?

More FTX fallout...(is the necktie still tightening SBF?)It seems the cascade was linked to worries concerning crypto-friendly bank Silvergate. 

SIlvergate had previously been heavily linked to the now-bankrupt crypto exchange FTX and its sister trading company Alameda Research.

Well-known crypto companies, including Coinbase, Circle (USDC), and Tether (USDT) scrambled to distance themselves from the bank. 

But why did Bitcoin dump?

We dared to think it was all going to be sunshine and lollypops from here on in!That's why.Recently, markets have been growing in bullish confidence, with many analysts predicting the worst is behind us and many investors going long, like a hail Mary, 4th quarter pass!!The Silvergate uncertainty led to another shakeout and caused over $62 million of long positions to be liquidated, thus causing Bitcoin to plummet to its lowest since Valentine's day (Feb 14th).

The Bitcoin charts have found a level of support at around $22,300. Hopefully, we can continue building with the bulls from here on in. (not financial advice…obvs!)

ETH Staking Withdrawals Pushed Back

It has often been said that changing from Proof of Work to Proof of Stake would take erm…a while! However, this seems to be dragging on longer than the hundred-year war.…and before any ETH maxis say, "we’ve already moved to proof of stake…it’s done.”Let me posit you this; if your stakers can’t remove their stake…you ain’t done, son!

I’m not bashing ETH, it was the right play, and it was always going to be difficult. A friend once explained it to me like this. “Imagine having to replace every bolt, rivet, and screw on a Boeing 747 simultaneously, while full of passengers at 40,000 feet altitude…with a blindfold on.”Previously planned for March, the significant upgrade is now slated for the first two weeks of April.Personally, if I had 32 ETH staked, I'd want it done right rather than right now. What do you think?

U.S. Finally Breaks a Sweat!

Move-to-Earn project Sweatcoin will finally upgrade its regular, non-crypto Sweatcoin app to the Web3 version in the US in September this year (2023).In 2022, Sweatcoin was the most downloaded health and fitness app globally. 

So, when they announced they would upgrade their entire platform to a Web3 wallet and convert all non-crypto sweat coins to $SWEAT, it was a big deal.However, U.S. regulations had delayed the launch of the U.S. Web3 Sweatcoin app version.Until now!Finally, U.S. users will be able to start earning $SWEAT from their actual sweat!

Sweat Economy co-founder Oleg Fomenko recently stated:“We’ve been keeping an eye on regulatory developments and speaking to our legal advisors, and feel this year is the right time to bring SWEAT to the U.S." Come September, Americans from the east to the west can join the rest of the world in our sweaty party!

DailyCoin Daily Meme

Shiba Inu’s SHIB: The Metaverse to Be Featured at SXSW Texas

The official SHIB Token team is preparing to take crypto and Web3 enthusiasts on the first virtual tour around the highly-anticipated SHIB: The Metaverse. 

FTX: $8.9 Billion Customer Funds Missing – Here’s What Happened

Cryptocurrency exchange FTX has revealed a “massive shortfall” in crypto and fiat currency holdings. Billions in customer funds are missing from

Silvergate Crisis: Bitcoin (BTC) Leads Market Plummet as Billions Vanish in Minutes

The crypto market has suffered a sharp selloff across all major crypto assets following worrying news about crypto bank Silvergate.

RIght...go and enjoy your weekend.

If you can't tear yourself away though.

There's always more on 

our website

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See you on Monday!