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Ethereum developers have begun finalizing the Shanghai upgrade “shadow fork,” according to software engineer Marius van der Wijden. The “shadow fork” will serve as a testing environment for the Shanghai upgrade, allowing developers to identify bugs and any potential issues. Ethereum’s Shanghai Upgrade ‘Shadow Fork’ Launches As the cryptocurrency community awaits the upcoming Shanghai hard fork, core Ethereum developers have launched a testing environment called a “shadow fork” in order to test the upgrade. This follows the developers’ announcement of the launch of a new testnet for the Shanghai upgrade on Jan. 11, 2023. The fork, which will focus on allowing staked withdrawals, is anticipated to occur in March 2023. According to Marius van der Wijden, an Ethereum Foundation software developer, there were a few issues with the “shadow fork” that began at approximately 6 a.m. Eastern Time on Monday morn...

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin has pulled a little lower on Sunday, with the world’s largest cryptocurrency by market capitalization last changing hands just under $24,500, down about 1.5% on the day. That means Bitcoin has now pulled about 4.0% lower versus the weekly highs it printed on Saturday in the mid-$23,000s. Profit-taking is being cited as the main driver of Sunday’s drop, though reports that international payments processor SWIFT is to block USD transactions to Binance that are below $100,000 might also be weighing. This move by SWIFT it expected to make it far more difficult for retail investors to buy cryptocurrency on the world’s most widely used exchange, as it removes an important fiat-to-crypto on-ramp. Nonetheless, Bitcoin is still on course to close out the week more than 7.0% higher, taking this month’s gains to more than 35%. That means January is on course to be Bitcoin’s best since October 2021, even though...

Bitcoin (BTC), the world's largest and most popular cryptocurrency, has prolonged its strong winning streak and reached its highest level since mid-September, about 22,687. Meanwhile, the second largest cryptocurrency Ethereum (ETH), is also experiencing a significant rise as It has increased by roughly 7% to $1,656, reaching a four-month high. The rally for ETH could be attributed to the risk-on sentiment in the cryptocurrency market, which has supported all digital coins, including BTC and ETH. Despite news that Genesis Global Holdco LLC, the company that owns cryptocurrency lender Genesis Global Capital, has filed for Chapter 11 bankruptcy, the cryptocurrency market has continued to rise. This might be because investors had already priced in the company's impending issues. It's worth recalling that the Genesis company was affected by the aftermath of the failures of the crypto exchange FTX and, more recently, the crypto hedge fund Three Arrows Capital...

Film festivals have seen an increase in blockchain and crypto-funded film projects and initiatives as Web3 technologies continue to merge with the entertainment industry. Web3 technologies continue to infiltrate various mainstream industries to bring innovation to old systems. This includes legacy creative fields such as the music industry and more recently, the film industry. This year, the Slamdance Film Festival, an oscar-accredited film festival for indie filmmakers, will see the premiere of the new film “Fuzzy Head,” which received its funding through the blockchain-powered crowdfunding platform Untold.io.  Ali Aksu, the CEO of Untold.io, told Cointelegraph that filmmakers, as in the case of Fuzzy Head, can use blockchain technology to democratize their financing process and open up investment opportunities to both accredited and unaccredited investors. “The most important aspect of crypto/blockchain integrations in the film industry will be opening up a new asset class to all ...

The Busan Digital Asset Exchange Establishment Promotion Committee said it plans to create a functional exchange by the end of the year. According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets. “Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.” As told by the Busan Digital Asset Exchange Establishment Promotion Committee, the plan involves coordinating domestic financial companies and digital asset exchange s and building a transaction support system serving as the basis for the exchange . “The Busan Digital Asset Exchange has a decentralized fair exc...

Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent and “always has been.” SBF Claims Misrepresentation by Litigation Firm, Twitter Critics Doubt Solvency Sam Bankman-Fried (SBF) is providing additional information in response to the recent press release and 20-page presentation document issued by FTX debtors and current restructuring administrators. The press release reported that investigators found $5.5 billion in liquid assets. In response, SBF posted a new blog on his Substack newsletter and stated on Twitter, “FTX US is solvent, as it always has been.” The blog post echoes this statement and asserts discrepancies between Sullivan & Cromwell...

Meme coins, including Shiba Inu, have been gaining popularity. Even though 2022 proved to be a fatal year in terms of cryptocurrency prices, 2023 is beginning on a positive note. Shiba Inu has also been demonstrating an increased amount of SHIB burns ever since the beginning of the year. This is the case, minus a few days. The cryptocurrency market has also been putting on a positive rally, with Bitcoin and other altcoins up by double digits over the last few days. Read more: Binance Obtains Regulatory Approval to Provide Crypto Services in Poland Even though the rally seems to be over and the prices seem to have stabilized, Shiba Inu put on a show with a 16.4% gain in value over the last 24 hours. Let us look at the possible reason behind this Shiba Inu pump. Source: Analytics Insight Shiba Inu price spike majorly due to anticipation of Shibarium The Shiba Inu community is one of the strongest armies in the cryptocurrency realm. The community has been highly antici...

Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr moderated a panel discussion at the 2023 Davos conference in Switzerland on sustainability in the world of blockchain. The World Economic Forum (WEF) in Davos, Switzerland, brings together global leaders and thinkers across various industries to hone in on global issues each year. As the world of crypto and blockchain continues to push into the mainstream view, it, too, has become a topic of discussion at the legacy event.  Cointelegraph editor-in-chief Kristina Lucrezia Cornèr moderated a panel on Jan. 17, which touched on sustainability efforts in the blockchain industry.  Even though not all panelists come from the same background, they unanimously highlighted education and learning as the key way to drive sustainability in emerging technologies during "The emergence of Breakthrough Technologies" panel. The focus of the panel viewed sustainability in the blockchain industry through two lenses. One of which is in ...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com The cryptocurrency market has enjoyed a significant surge in the past week, with coin prices rising significantly and investor sentiment growing. However, after crossing the trillion-dollar peg recently, what are the chances of a 5x growth for the market this year?  Crypto Market Posts Gains as Inflation Cools  Entering 2023, the crypto market appears to be on track to recoup some of the losses suffered last year. Coin prices are increasing significantly, with the broader market also posting impressive gains.  The crypto market is currently valued at $990 billion. This is the first time it has reached this level since November 2022, before the collapse of the now-defunct FTX cryptocurrency exchange. Significant increases in several top coins drive the current gains in the market. Investor sentiment toward digi...

Solana started the week trading near a two-month high, as momentum remained marginally bullish, despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher as of writing. Shiba inu also traded close to recent highs, despite declines on Monday. Solana (SOL) Solana (SOL) remained near a two-month high to start the week, despite crypto markets beginning to consolidate recent gains. SOL/USD hit an intraday high of $24.75 on Monday, which comes less than a day after falling to a bottom of $22.68. This move means that the token remains close to this weekend’s high of $25.03, which was the strongest point for SOL since November 8. SOL/USD – Daily Chart From the chart, it appears as sentiment in solana is still somewhat bullish, which comes as the 14-day relative strength index (RSI) continued to track above a support point at 80.00. As of writing, the index is tracking at 80.18, with solana trading at the $23.42 price point. Should the ind...

The Bitcoin Fear and Greed Index reached an index score of 52 over the weekend, marking the first time its hit neutral territory in three quarters. The highly-referenced Bitcoin Fear and Greed Index moved into neutral territory over the weekend following several month s of fear. On Jan. 15, the index reached a neutral level of 52, its highest since April 5. The move follows a 24% gain for the BTC over the past seven days. The market sentiment tracker hit a multi-year low of 9 in June 2022. Since then it has been hovering between 20 and 30 in the “Extreme Fear” category. Furthermore, it registered its longest-ever streak of extreme fear in mid-2022, as reported by Cointelegraph. The fear and greed index uses “motions and sentiments from different sources” including current volatility, market momentum and volume, social media and Google Trends data, among others. Together, data from these sources is used to create a straightforward number to summarize the emotional state regarding Bitc...

The cryptocurrency market increased by 7.50% in the last 24 hours as it began to ride a wave of economic data, reaching a total capitalization of $974.43 billion.  The currency's value has risen by 11% in the last week due to recent improvements in US inflation data and signs of economic growth in Europe, raising hopes that the worst of the world economy's downturns in 2022 may be over.  Even though today's market movements are encouraging, a few cryptocurrencies have outperformed. Anyone looking to invest in cryptocurrencies and earn long-term returns is in luck. Best Coins to Buy Today 14th January  The best alternative currencies to buy right now are SOL, MEMAG, COMP, FGHT, ADA, CCHG, COMP, RIA, and AVAX. Solana (SOL) The SOL/USD pair is trading at $22.20 on January 14, with a 24-hour trading volume of $2 billion. The current market capitalization is $8 billion, and the present position is 11. Solana (SOL), a blockchain with two independent validato...

In recent years, the metaverse—defined by Merriam-Webster as "a highly immersive virtual world where people gather to socialize, play, and work"—has been receiving considerable recognition from tech giants and banks who have invested heavily in this tech.  Reports suggest that its worth could reach up to a staggering $13 trillion by 2030, making it an invaluable component of our future internet experience. Part of that value will likely come from the next big metaverse coin, of which an upcoming metaverse world building game, RobotEra, is a good contender. The emergence of the metaverse is expected to change how the world looks at human interactions, work, and play. Experts predict that innovation in this new sector could be on par with disruptive innovation associated with the internet itself while empowering the creator economy. In the past few years, Web3-related metaverse gaming has experienced tremendous growth with projects like the Sandbox, Ax...