2023-04-05

🚠 Up and Down We Go!!

April 05, 2023

Salut, my DailyCoin friends,So, Ethereum just breached $1,900.. that’s nice. Let’s hope it holds!

Let’s dive into today’s topics:

📉 Is the Ethereum Price Going to Crash in 8 Days?
🇨🇭 The Swiss Break Out Their Crypto Army Knife
🤢 TRUMP bounces up and down…(sorry for that image 🤣)

Is the Ethereum Price Going to Crash in 8 Days?

If the Shapella upgrade goes ahead as planned in 8 days, over 1.3 million ETH will instantly become withdrawable and available for sale.1.3 million ETH is currently worth around $2.4 billion.

Is it all doom and disaster for the Ethereum price? Doubtful; here’s why.158K ETH belonging to Celsius is likely to be sold as part of their bankruptcy.That leaves over 1.1 million in the hands of regular folk. While some will probably sell, given our tough financial situation, that leaves a large percentage who are earning a tidy passive income (around 5% APY).According to analysts at K33 Research, only 16% of all staked ETH was deposited before February 2021 (when the price was the same as it is today, currently $1,914).This means that up to a whopping 84% of staked ETH may not be in profit. So, yeah…doubtful there'll be a run on ETH.

Switzerland, It’s Not All Mountains and Chocolate, They Know Their Finance Too

Excuse the cliché…Clichés. Sorry to any Swiss Readers, but…we’re kinda jealous. Beautiful scenery, great chocolate, AND retail trading of Crypto.…next, you’ll be telling us you have one of the lowest crime rates in the world! Wait, what’s that? Your overall murder rate is nearly zero (at just 45 people per year).

Getting back to the topic at hand. Swiss government-owned retail bank Post Finance is preparing to offer its customers cryptocurrency trading and storage services.PostFinance’s move into crypto comes in response to a growing demand from its customers, the bank’s chief investment officer Philipp Merkt noted, stating:“Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank.”Meanwhile, in the US and the UK…the banks have a more head-in-the-sand, fingers-in-ears approach to crypto. Oh, to be Swiss!

TRUMP NFT Price, How is it Reacting to The Charges?

So, it turns out that Trump isn’t the first US president to be arrested. The 18th US president, Ulysses S. Grant, was arrested for speeding in his horse and buggy thing. He was let off with a fine and told to walk home. Hardly a crime, right?That was in 1872, 150 years ago!

Sorry… went on a bit of a tangent there, back to business.So, how have Trump's NFT collectibles reacted to his arrest? In the hour after his arrest, the collection saw 30 sales, a 462% increase after a long period of token holder dormancy.The former president released his series of digital collectibles in December. Priced at $99, the collection was ridiculed for being amateurish in design, but it turns out that they may have been a savvy purchase.

The price of the NFTs has soared to 0.51 ETH ($976), not a bad return on investment!Despite what they look like, watching what happens to the price as the story unfolds will be very interesting.(Not financial advice!)