Mastercard Launches Artistic NFT, Ethereum After Shapell Update

Bitcoin has been relatively stable around $30 in the past week, having surpassed that level for the first time since June last year. By mid-week, the cryptocurrency jumped over $000, but it was temporary.

Ethereum, however, experienced a stronger jump in value, thanks in large part to the successful update of Shapell (more on that below). Ethereum started the week below $1 but surged higher, up about 850%. after update. It is now trading just below the $13 level.

Ethereum chip after Shapell update

How is Ethereum and its network doing after the Shapelli update? Reaction to unblocking stakings Ethereum as part of the Shapell update, it was finally largely silenced. The price of the token increased in the second half of the week, but this was probably due to the positive attitude on a macro scale, and not necessarily the sensitivity of investors to changes in the network.

Despite the promise of unlocking rates in ethereum, the real thing ETH staking value increased only slightly according to CryptoQuant data. Staking Reward data shows that the relative staking ratio of ETH is significantly lower than competing cryptocurrencies, with just under 15 percent. ethereum staked. This compares to other major blockchains such as Cardano i Avalanchewhich account for 67% respectively. and 61 percent staked.

Of course, while some short-term market volatility was rightly expected, this is a long-term trend. The theory is that unlocking staking for investors will encourage them to stake tokens - because now it's much easier to get them back if needed.

In the next few months, we'll see if that figure of 15 percent is actually worth it. will budge, or maybe it is already at its natural market level.

Mastercard launches artistic NFT

Mastercard, a global technology company providing cashless solutions, has launched its NFT program around music with blockchain developer Polygon.

The program started at the beginning of the year will support emerging musicians, giving them the tools to use Web3 technology to increase their audience. Fans can now get a Mastercard Music Pass which will give them access to NFT music and other collectibles to support artists. Artists will be able to grow their audience with access to educational tools and AI, and offer fans "priceless" experiences.

The NFT market has been quite subdued for some time now. The new Mastercard offer is still quite general, so it remains to be seen how successful it will be. One area where it still seems unclear is the digital ownership of music.

It's a shame because this is a real struggle for budding musicians forced to accept only modest fees from streaming platforms. NFT blockchain technology could be used to better protect the digital rights of artists, but Mastercard appears to have backed away from such an ambitious endeavor for now.

Sweden cuts cryptocurrency mining subsidies

Sweden has become one of the last European Union countries to limited subsidies to help make cryptocurrency mining profitable on the continent. Of course, one could argue that subsidies should not be the arbiter of profitability, and that miners should be able to stand on their own two feet. However, it will be a blow to the sector in the Nordic region. The end of the subsidy means a tax increase of 6000 percent. per kilowatt hour.

The cryptocurrency mining sector has gone through some pretty radical changes recently, including bans in some regions, the end of financial support in others, and changes to networks like Ethereum that have shaped the market.

In the future, the focus will be on Bitcoin. With serious environmental concerns, the mining industry will need to step up its focus on clean energy solutions that will enable mining without increasing the burden of fossil fuels.